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* STOXX 600 down 0.5 pct
* Britain's FTSE 100 hits another peak
* Fresenius falls after subpoena
* Casino buoyed by upgrade (Adds details and quotes, updates prices)
By Kit Rees
LONDON, Jan 9 (Reuters) - European shares edged lower onMonday, while a rise among basic resources stocks helpedBritain's FTSE 100 index hit a record high.
The pan-European STOXX 600 index was down 0.5percent.
The FTSE 100 gained 0.3 percent to 7,239.26 points, putting it on track for its tenth straight session of gains.
"I think the appetite is there to keep (the FTSE) pushingnorth. The week's earnings are going to provide a boost, I thinkcommodity prices seem to be holding up quite nicely, which isgood for the mining. The financials are still buoyed," Mike vanDulken, head of research at Accendo Markets, said.
The basic resources sector rallied 0.1 percent.
A 5.1 percent fall in Deutsche Lufthansa's shares weighed on travel and leisure stocks.
Telecoms were also on the back foot, down 1.4percent and the biggest sectoral faller, with Vodafone dropping 1.8 percent after UBS cut its target price on thestock.
Germany's Fresenius Medical fell 6.3 percent afterit and U.S. rival DaVita Inc received subpoenas fromfederal prosecutors investigating their ties with a charity thathelps patients pay for kidney dialysis.
British mid cap betting firm William fell 3.8percent after reporting profit at the bottom of its guidancerange.
Among top gainers, French retailer Casino Guichard rose nearly 5 percent following an upgrade from Bank of AmericaMerrill Lynch, citing a simplification of the group's corporatestructure as a positive for the stock.
"Casino is unrivalled when compared to peers in terms offuture GDP and retail sales growth, in our view, with each ofits subsidiaries having strong market positions," analysts atBofA Merrill Lynch said in a note.
Auto makers were also in focus, with shares in Volkswagen rising 4.4 percent after the carmaker said brandsales rose 2.8 percent in 2016, driven by China which is itslargest sales market.
Shares in Fiat Chrysler gained 2.8 percentfollowing news that it will invest 1 billion to modernize twoplants in the U.S. Midwest and create 2,000 jobs.
(Reporting by Kit Rees, Editing by Vikram Subhedar and JohnStonestreet)
