European shares advance

European shares advanced for the first time in eight sessions, following their Asian counterparts higher as the global risk-off mood eased. Oil steadied with commodities following the biggest five-day selloff since early October.

Financial services firms and builders were among the biggest gainers in the broad advance of the Stoxx Europe 600 Index, while in Japan the Topix index ended its longest losing streak in a year. The pound fluctuated before edging lower as Brexit rhetoric rumbled on, and data showed auto demand in Britain fell a seventh consecutive month in October. Commodities stabilized as China’s central bank boosted the supply of cash in the system by the most since January. Bonds were a mixed bag across Europe and Asia even as the yield on 10year Treasuries climbed.

Investors seem to be regaining their appetite for risk after several days of global declines in stocks and high-yield credit that had many questioning whether the selloff could become a rout. Volatility measures have been climbing since the record high reached last week in equities gave way to days of decline. Global growth remains resilient and earnings forecasts strong, despite uncertainty surrounding U.S. tax overhaul, the path for China’s economy, and the U.K.’s exit from the European Union.

The Stoxx Europe 600 Index jumped 0.4 percent as of 9:08 a.m. in London, the first advance in more than a week. The MSCI AllCountry World Index climbed 0.2 percent. Futures on the S&P 500 Index jumped 0.3 percent.

The euro declined 0.1 percent to $1.178, the largest drop in more than a week. The British pound declined 0.1 percent to $1.3159.

West Intermediate crude gained less than 0.05 percent to $55.35 a barrel. Gold fell 0.1 percent to $1,276.83 an ounce. Copper decreased 0.2 percent to $6,757.00 per metric ton, the lowest in more than five weeks.