Published by Global Banking & Finance Review®
Posted on February 25, 2026
1 min readLast updated: April 2, 2026
Add as preferred source on GoogleEuropean mining stocks hit a record, topping 2008, as precious and industrial metals climb. The STOXX Basic Resources sector is up sharply YTD; Europe’s oil & gas index also set a record earlier this week. (janushenderson.com)
LONDON, Feb 25 (Reuters) - European mining and utilities stocks each hit an all-time high on Wednesday, passing their previous peaks in 2008, the latest sign of a broadening out of last year's rally in European stocks.
Both precious and other metal prices have been rising steadily in recent months, which has boosted miner share prices. The STOXX basic resources sector has gained 25% since the start of the year, nearly matching its total gain for 2025. <.SXPP>
The STOXX utilities sector has meanwhile risen around 15% since the start of the year. Utilities are seen as a beneficiary of AI trends, due to data centres' power needs, and are also part of an investor rotation into hard assets.
Mining and utilities are the second and third European industry sectors to clear a longstanding milestone this week. The oil and gas index took out its 2007 record high on Monday..
(Reporting by Sophie Kiderlin; Editing by Amanda Cooper and Alun John)
European mining stocks reached a new all‑time high, surpassing their 2008 peak, as rising precious and industrial metal prices drove gains across the sector.
A steady rise in precious and base metal prices lifted sentiment and earnings expectations for miners, pushing the STOXX Basic Resources sector higher.
The European oil and gas index also broke its prior peak, surpassing the 2007 record earlier this week amid firmer crude prices. (economictimes.indiatimes.com)
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