Today's Edition
FRANKFURT (dpa)
The DAX, Germany's leading stock market index, reached a record high on Monday.
After subdued trading until the early afternoon, the index picked up speed after the US stock market opened, and climbed to a record high of 23,935 points in late trading.
It crossed the finish line 0.70% higher at 23,934.98 points. The second-tier MDAX gained 0.82% to 30,131.65 points.
Initial turmoil in New York over the downgrading of the US credit rating quickly subsided after trading began, boosting risk appetite in Germany and benefitting the DAX.
In addition, the announcement of closer cooperation between the United Kingdom and the European Union supported market sentiment.
Five years after Brexit, the two sides reached agreements on issues such as defence and security, food standards, fisheries and energy, as well as irregular migration.
No details of the telephone conversation between US President Donald Trump and Russian President Vladimir Putin were known by the close of trading.
