European shares rise for third straight session

European shares rose for the third straight session on Tuesday, building on a recovery since late last week as British drugmaker AstraZeneca surged on results of a late-stage study.

Shares of the drugmaker rose 1.5% after the company said its diabetes drug Farxiga met the main goal of the study for the treatment of patients with heart failure. The pan-European STOXX 600 index was up 0.1% by 0712 GMT, with London's FTSE 100 outperforming.

Pandora A/S jumped 6.4% to the top of the STOXX 600 index on Tuesday after the Danish jewellery maker maintained its full-year guidance. However, a fall in bank shares and auto parts makers capped gains.

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