European shares gain on miners' boost, German DAX at fresh record high

European shares gained on Wednesday on rising bets of a peak in global interest rates, led by miners riding on higher metal prices, while Germany's benchmark DAX scaled a fresh all-time high.

The pan-European STOXX 600 index climbed 0.1% by 0809 GMT, while the Germany's DAX also rose 0.1%.

Basic resources gained 1.3% tracking a rise in prices of most base metals.


Investors now await euro zone construction purchasing manager's index data for November, along with October retail sales to gauge the strength of the European economy amid recession concerns.

Focus was also on U.S. November ADP national employment report after a drop in October job openings to more than a 2-1/2-year low on Tuesday boosted expectations the Federal Reserve's monetary policy tightening cycle was over.

Ocado Group gained 3.1% after J.P.Morgan upgraded the online supermarket and technology group's stock to "neutral" from "underweight".

Merck sank 13.4% after the pharmaceutical company's experimental multiple sclerosis drug evobrutinib did not meet the primary goal in late-stage trials.