The DAX index surged 0.75%, or 57.38 points, to 7,587.75 at 16:11 GMT reaching its highest level since May 2011. The gauge has improved 27% since June 5 when it touched its lowest level, as the ECB announced a plan of unlimited bond buying to preserve the Euro currency. All but one sector within the index advanced with Financials postings losses of 0.26%. Among the sectors improving the most were Utilities with a 1.5% increase, Industrials with a 1.29% rally, and Consumer services by adding 1.14%. Meanwhile, ThyssenKrupp AG had the biggest gain in the DAX by adding 6.5%, reaching its highest level since May 2011. Since a gauge of utilities showed the biggest increase on the Stoxx Europe 600 index, EON SE and RWE AG added 2.89% and 2.26%, subsequently. In addition, the luxury car maker Bayerische Motoren Werke edged 1.69% higher, as MM Warburg & Co raised its stock from hold to buy.
© Dukascopy Bank SA
© Dukascopy Bank SA