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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