European shares rise for third straight session

(For a live blog on European stocks, type LIVE/ in an Eikon news window)

Aug 20 (Reuters) - European shares rose for the third straight session on Tuesday, building on a recovery since late last week as British drugmaker AstraZeneca (AZN) 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 (PNDZF) 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. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Arun Koyyur)

Copyright © Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.