German industrial orders fall unexpectedly in Oct
Holiday group TUI rises after FY outlook upgrade
Merck tanks after MS drug fails in latestage trials
British American Tobacco drops on impairment charge

Dec 6 Reuters European shares rose on Wednesday, led by miners and travel and leisure stocks, while Germany39;s benchmark DAX scaled a fresh alltime high on a boost from carmaker Volkswagen.

The panEuropean STOXX 600 index was up 0.1 by 0930 GMT, hitting a fresh fourmonth high, while the Germany39;s DAX also added 0.1.

Basic resources gained 1.5, tracking a rise in most base metal prices, while stocks in the travel leisure sector rose 1.2 as TUI jumped 10 after Europe39;s biggest travel operator forecast a sharp jump in operating profit in 2024.

Equities were further supported by eurozone government bond yields, which edged down to multimonth lows.

Focus was also on the U.S. November ADP national employment report after a drop in October job openings to more than a 212year low on Tuesday boosted expectations that the Federal Reserve39;s monetary policy tightening cycle was over.

We39;re basically arguing about when rate cuts might be coming, but they are going to be first in Europe as it was sort of first into the economic downturn, said Ben Laidler, global markets strategist at investing platform eToro.

Data showed a surprising decline in German industrial orders in October, down 3.7 monthonmonth, reinforcing expectations of European Central Bank rate cuts…