European stocks advanced Tuesday, with gains for financial shares reflecting rise in benchmark yields in government bonds in line with an improvement for perceived riskier assets such as equities among investors. The Stoxx Europe 600 index SXXP, +0.52% picked up 0.5% to close at 381.42, scoring a fifth straight day of wins. That marks the longest winning streak for the pan-European benchmark since April, according to FactSet data.
All three major U.S. stock indexes booked all-time closing highs on Tuesday, though gains were capped by unsteady trade in technology, after a brisk, broad-market run-up in the previous session. It marks the first time all three benchmarks finished at records on the same day since July 26, underlining a resurgence, albeit measured, in buying on Wall Street. Investors also focused on a key product debut from Apple.
Equity markets in Asia lacked direction early Wednesday, as broad gains in financials lifted stocks in Australia and Japan, though China’s markets underperformed. Global risk appetite returned this week, with all three major U.S. stock indexes hitting fresh highs overnight as geopolitical tensions eased. In addition, Hurricane Irma didn’t do as much damage to Florida as expected and U.S. oil refiners have ramped up after Hurricane Harvey battered Texas.