European Shares Rise for Third Straight Session

European shares rose in early deals on Wednesday, underpinned by a rally among commodity-related stocks as well as gains in companies such as Wire Card and Bouygues.

    The STOXX 600 index climbed 0.6%, on track for its third straight session of gains. The basic resources index was the top sectoral gainer, rebounding nearly 2% after a sell-off in the previous session, while oil stocks extended their rally, up 1% as the price of oil firmed on hopes of an OPEC output deal. 

    Among the top risers, German payment processor Wirecard rose 3.3% after issuing guidance for 2017, while France's Bouygues also rose 3.3% after maintaining its outlook following a forecast-beating rise in third quarter operating profit.

    A 5.2% fall in Bayer, however, weighed on Germany's DAX index, which traded flat and underperformed the broader European market. The drugmarker fell after a placement of 4 billion euros of mandatory convertible notes.