The pan-European STOXX 600 index edged up 0.2% to 629.51 points by 0829 GMT, bringing it about 1% away from a record high hit in February before the conflict started. Automobiles and parts was among the top gainers across sectors, rising 2.6%, with Volvo Cars jumping 7% after the company said it received a U.S. government approval that would allow it to continue selling vehicles in the country.
The sector was also lifted after that registrations in the European Union, Britain, and the European Free Trade Association rose 7% in April, taking the total for January through April 4.8% above a year earlier. Chemical stocks also gained over 1.3% as AkzoNobel shot up 16% after the paint maker rejected a joint cash takeover offer of €73 ($85) per share from rivals Nippon Paint and Sherwin-Williams. Meanwhile, escalating tensions in the Middle East kept gains in check, as Iran called recent U.S. strikes a violation of the ceasefire, while Israel bombed Lebanon.
