Europe's mining, utility stocks pass 2008 peaks to all times highs as rally broadens (updated)
25/02/2026 15:55
Adds utilities milestone 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 .SX6P 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. .SXEP. (Reporting by Sophie Kiderlin; Editing by Amanda Cooper and Alun John)