06.10.202607:40:10UTC+00European Stocks Rise for 3rd Day

European equities advanced on Tuesday, with both the STOXX 50 and STOXX 600 up 0.7%, extending gains from the previous two sessions and delivering their first three-day winning streak in a month. Pressure in the bond market eased, at least for now, though investors remained focused on the political backdrop in Spain and France. Oil prices slipped as continued strength in Middle Eastern crude exports weighed on the market.

At the sector level, healthcare led the advance, while oil and gas stocks lagged. Notable gainers included Novartis (+1.6%), AstraZeneca (+2%), Novo Nordisk (+0.8%) and Sanofi (+1.8%). Banks also posted solid gains, with Banco Santander up 1.2%, BBVA 1.5%, UniCredit 1.9% and UBS 1.3%. On the downside, Schneider Electric (-2%), Repsol (-1.4%) and Telecom Italia (-1.4%) ranked among the session’s weakest performers.