European shares rise as retreating bond yields and oil prices boost risk appetite

European shares climbed on Tuesday (Oct 6), driven by gains across sectors as euro zone bond yields softened after a recent rally fueled by fiscal and inflation concerns. The pan-European Stoxx 600 index closed 0.5% higher, easing some earlier-day gains, and marking a third straight day of increases. The majority of sectors finished in the green, with travel and leisure stocks leading the surge, up 1.4%.

Oil prices took a 2% hit on Tuesday as heightened Middle Eastern crude exports helped ease supply worries. Danish biotech company Genmab surged 4.4% to a three-year high, following a late-stage study showing its combination treatment for newly diagnosed lymphoma patients significantly reduced the risk of disease progression or death. Healthcare stocks as a whole rose 0.6%, albeit restrained by a 5.5% drop in Zealand Pharma.