BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks edged up in cautious trade on Wednesday despite heightened inflation concerns and expectations that major central banks could raise borrowing costs soon.
In geopolitical news, media reports suggest that the release of frozen Iranian assets has emerged as the main sticking point in talks between Iran and the United States.
The pan-European STOXX 600 was up 0.2 percent at 629.44 after declining 0.6 percent on Tuesday.
The German DAX surged 0.6 percent, France's CAC 40 added half a percent and the U.K.'s FTSE 100 was marginally higher.
Automakers Volkswagen, Stellantis and Renault rallied 2-4 percent after data showed European car sales climbed for the third consecutive month in April, helped by strong demand for electric and hybrid vehicles.
Pets At Home shares jumped nearly 5 percent. After reporting a steep fall in annual underlying pretax profit, the U.K. pet care retailer said its retail sales returned to growth in the fourth quarter.
Ango-Swedish drug maker AstraZeneca fell nearly 1 percent. The U.S. FDA has informed the company that it needs more time to review additional data and render its decision on the oral selective oestrogen receptor degrader (SERD) camizestrant.
Volvo Car shares soared nearly 8 percent. The Swedish automaker said it has received U.S. government authorization to continue selling vehicles despite new regulations barring Chinese autos.
Dulux paint maker Akzo Nobel jumped 16 percent after rejecting a joint takeover offer from rivals Nippon Paint and Sherwin-Williams.
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