UPDATE 2-European equity rally pauses at multi-year highs
* FTSEurofirst 300 up 0.1 pct after hitting 7 1/2-year peak
* DAX underperforms, led by Siemens, K+S
* FTSE 100 hits record high; 7,000 mark in sight
By Francesco Canepa and Blaise Robinson
LONDON\PARIS, March 19 (Reuters) - European stocks paused after hitting a 7-1/2-year high on Thursday, capped by falls in Germany's Siemens DE> and K&S due to concerns about the impact of lower commodity prices on their profits.
Shares in industrial group Siemens slid 5 percent after the group Chief Executive Joe Kaeser said on Thursday he was worried that the slump in oil prices is discouraging oil-exporting countries from investing in infrastructure.
Chemical firm K&S dropped 3.1 percent in heavy volume on reports of lower potash prices in deals struck by exporter Belarus.
The stocks led fallers on Germany's Dax, which was down 0.6 percent at 1507 GMT, succumbing to some profit-taking after a 20 percent rally since the start of the year.
The FTSEurofirst 300 index of top European shares was up 0.1 percent at 1,592.25 points, after climbing to a 7 1/2-year high earlier in the session. Continuación...