Euro dips further as French central bank chief warns the country risks being ‘strangled by interest rates’ – business live

European shares are rising while government bond yields retreated, after soaring to multi-decade highs last week.

The pan-European Stoxx 600 index rose 0.8%, on track for a third session of share gains. In London, the FTSE 100 index advanced 82 points, or 0.8%, to 10,580.

The Danish biotech company Genmab is leading gains, up 8.1%, after it said that their blood cancer drug combination with US drugmaker AbbVie reduced the risk of disease progression or death in a late-stage clinical study.

Epcoritamab, jointly ‌developed ⁠by the two companies to treat patients newly diagnosed with ‌a type of lymphoma, is an immune-based therapy that helps the body’s T cells attack cancer cells

The combination treatment reduced the risk ​of disease progression or death by 51% in newly diagnosed patients compared with the current standard treatment, R-CHOP, alone.

Germany’s Dax rose 0.7%, France’s CAC added 0.5%, Italy’s FTSE MiB gained 1.1% and Spain’s Ibex climbed 0.9%.

On bond markets, the UK’s 10-year benchmark gilt yield dropped 6.5 basis points to 5.36%, while the 30-year yield fell a similar amount to 5.88%, bringing some relief to Andy Burnham ’s government ahead of the budget on 28 October.