EUROPE MARKETS: Resource Stocks Push European Markets Toward Record High

By Carla Mozee, MarketWatch

Siemens shares weigh on Germany's DAX 30

LONDON (MarketWatch) -- European stocks rose Thursday, with the market's benchmark moving closer toward a record level, aided by gains for shares of natural-resources companies.

The Stoxx Europe 600 rose 0.2% to 401.16, finding strength as the energy sector was among those advancing. There, shares of Ophir Energy PLC popped up 3.3%, among the best performers of the session after the Africa-focused oil and gas company swung to a yearly profit (http://www.marketwatch.com/story/ophir-energy-swings-to-profit-on-asset-hunt-2015-03-19) and said it's looking to purchase more exploration acreage in the wake of the recent oil-price slide.

Also trading at the top of the pan-European benchmark were mining shares, which appeared to be aided by an overnight drop in the dollar (DXY), stemming from expectations the Federal Reserve may hold interest rates lower for longer. Precious metals miner Fresnillo PLC surged 5.5%, Anglo American PLC rose 3.3% and Randgold Resources Ltd. picked up 1.8%, rising alongside most metals prices. The dollar did recover some ground on Thursday (http://www.marketwatch.com/story/dollar-recoups-some-post-fomc-losses-against-yen-euro-2015-03-19).

The U.K.'s FTSE 100 (http://www.marketwatch.com/storyno-meta-for-guid), which is heavily weighted by energy and mining shares, rose 0.2% to 6,955.47, edging toward its best close on record.

The Stoxx 600 itself was getting nearer to its all-time closing high at 405.50. The Stoxx 600 is up 17% this year, bolstered by the impact of the European Central Bank's massive asset-purchase program.

Meanwhile, Germany's DAX 30 edged up 3 points at 11,927.85, with its gain capped in part by shares of Siemens AG (SIEGY). Its stock fell 2.5% following reports the engineering firm's chief executive has said second-quarter operating profit will be softer than anticipated.

France's CAC 40 clung to a rise of less than 1 point at 5,033.65.

Among the sharpest decliners on the Stoxx 600 was Next PLC . Shares dropped 3% after the British apparel retailer said it remained "very cautious in our sales budgets" (http://www.marketwatch.com/story/next-cautious-for-current-year-despite-profit-rise-2015-03-19-44851037) although the consumer economy looks benign. Next did post a yearly rise in both net and pretax profit.

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