European shares inch up as investors assess US-Iran agreement

European shares edged higher as investors assessed a preliminary US-Iran agreement to end conflict and reopen the Strait of Hormuz, pushing oil prices lower with Brent near $82/barrel. The Bank of Japan raised rates to a 31-year high, while ECB hiked 25 bps last week, with Fed and BoE decisions also due. UniCredit gained 2.8% after Germany rejected its Commerzbank bid, while STMicroelectronics fell 2.5% on a $1.5 billion convertible bond issue.