European stocks moved higher Thursday, with dollar weakness supporting leaps in commodity-related shares, as disappointing Credit Suisse AG earnings helped limit the market’s gain. The Stoxx Europe 600 SXXP, +0.25% , which was up 0.5% at 331.19. It briefly turned negative after rising by as much as 1.1%. A win Thursday would be the benchmark’s first in four sessions. Acting as a cap on the index were shares of Credit Suisse AG CSGN, -11.25% CS, +1.09% , after a a disappointing financial update from the banking heavyweight. They tumbled 12% after the Swiss bank swung to massive fourth-quarter loss of 5.83 billion Swiss francs ($5.8 billion), in part as the company wrote down the value of an ill-fated U.S. acquisition. But oil and gas SXEP, +3.31% and basic material SXPR, +4.56% stocks moved up the most in European trade after the dollar DXY, -0.66% lost ground against the euro, the Japanese yen USDJPY, -0.18% and other currencies. Downbeat U.S. economic data Wednesday led to a selloff in the greenback. That was an encouraging turn for oil and metals, as a weaker dollar makes them less expensive to buy for holders of other currencies. The euro EURUSD, +0.6935% on Thursday jumped above $1.11, a three-month high, as European Central Bank President Mario Draghi discussed the pros and cons of using monetary policy to fight low inflation. Among oil shares, Tullow Oil PLC TLW, +9.62% bounced 10% higher, Finland’s Neste NESTE, +8.85% tacked on 8.6% and Statoil ASA STL, +8.43% gained 7.4% even as the Norwegian company unexpectedly posted a quarterly net loss. Statoil said it plans to cut capital expenditure by about 12% in response to collapsing oil prices. The plunge in oil prices led to a nearly 60% drop in profit at Royal Dutch Shell PLC RDSB, +6.47% RDS.B, +3.73% but Shell shares took part in the commodities rally as they climbed 5.9%. In the mining group, Anglo American PLC AAL, +12.46% spiked up 10%, and Sweden’s Boliden AB BOL, +5.31% picked up 5.9%. The push higher for commodity shares was a boon for the U.K.’s FTSE 100 UKX, +1.19% which shot up 1.7% to 5,935.90. But shares of AstraZeneca PLC AZN, -4.54% AZN, +0.28% slumped 4.5% after the drugmaker warned of a yearly fall in profit. Investors in U.K. assets were also looking ahead to the Bank of England’s monetary policy decision and quarterly inflation update at 12 p.m. London time, or 7 a.m. Eastern Time. In Germany, the DAX 30 DAX, +0.52% gained 0.6% to 9,490, and France’s CAC 40 PX1, +0.32% rose 0.6% to 4,251.32. Investing Insights: A global markets survival guide If you’ll be in London on Tuesday, Feb. 23, you’re invited to join us for an evening of cocktails and conversation on the topics of shifting monetary policy, growth, currencies, and the outlook for investing opportunities and risks in European and global markets. Our panelists for the evening will include MarketWatch Personal Finance and Investing Columnist Robert Powell; Mark Hulbert, Editor of the Hulbert Financial Digest; and Virginie Maisonneuve, Founder and Managing Director of Maisonneuve Global Advisors. The event is free and open to the public, but reservations are required. For more information or to RSVP for the event, please email MarketWatchevent@wsj.com.

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