BASF rises on UBS rating upgrade
Entain gains after CEO39;s exit
Nel drops after client backs out of order

Dec 13 Reuters European shares edged up on Wednesday on a boost from chemical manufacturers even though investors broadly stayed away from risky bets ahead of the Federal Reserve39;s muchanticipated interest rate decision and policy outlook.

The panEuropean STOXX 600 rose 0.2 by 0915 GMT. Germany39; benchmark DAX and France39;s CAC40 were up 0.1 and 0.3, respectively, after scaling intraday record highs on Tuesday.

There39;s quite a lot of risk event going on with the ECB next and we are just seeing caution ahead of that, said Daniela Hathorn, senior market analyst at Capital.com.

Investors have fully priced in a pause from the Fed later in the day, with Tuesday39;s U.S. inflation data doing little to alter rate cut bets for next year.

The focus will be on Chair Jerome Powell39;s commentary and the central bank39;s shortterm rates projection for clues on the timing of policy easing.

Powell would want to avoid all this speculation about rate cuts and focus more on the evolution of the economy… he39;s going to refrain from sounding too happy with the progress so far, Capital.com39;s Hathorn added.

Policy decisions from the European Central Bank and the Bank of England on Thursday are next in line, with both expected to hold rates steady.

BASF jumped 3.7 after UBS upgraded the German chemicals giant39;s stock to buy from sell, pushing the chemical…