European stocks on Thursday finished at their highest level in nearly 13 months, supported by a surge in biotech firm Actelion Ltd. and gains for bank stocks. The Stoxx Europe 600 index SXXP, +0.25% rose 0.3% to 367.50, rising for a third straight day and representing the highest close for the pan-European benchmark since Dec. 30, 2015, according to FactSet data.

The Dow Jones Industrial Average on Thursday extended its run into the record books, but the broader market meandered as gains in industrials and consumer-discretionary shares were offset by losses in health-care and consumer-staples.

Investors' renewed enthusiasm for risk continued into Asia-Pacific trading on Friday morning, as equities continued to build on recent gains and the dollar crept upward, breaching 115 yen for the first time this week. The shifts in asset prices have come as investors have had different interpretations of what Trump administration policies will mean in the U.S. and worldwide.