German DAX index rallied on Monday as Ifo institute reported German business confidence rose more than expected in March, reaching 8-month record high. BASF SE jumped 2% after Warburg upgraded the stock from hold to buy. On the downside Metro AG lost 2% on news Credit Suisse lowered its price target. At the moment of writing DAX index trades 1.07% or 74.90 points higher at 7,070.26.