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Germany's benchmark DAX index rallies

Xinhua, January 17, 2015 Adjust font size:

The benchmark DAX index at the Frankfurt Stock Exchange on Friday rallied and closed at 10,167.77 points.

In spite of the turmoil on some financial markets in the world as a result of the decision by the Swiss National Bank (SNB) to scrub its exchange rate cap with euro, the blue-chip index touched an all-time high of 10,207.97 points. It finally rose by 1.35 percent and analysts believe the expectation for an announcement from the European Central Bank to buy government bonds was behind the rally.

The utilities company RWE AG St rose the most by 4.4 percent. ThyssenKrupp AG continued its upward trend, gaining 2.9 percent. Volkswagen AG Vz advanced by 2.84 percent. BMW AG St added 2.77 percent and Bayer AG went up by 2.66 percent.

On the other hand, Deutsche Lufthansa AG plunged by 2.96 percent. HeidelbergCement AG fell by 2.68 percent. Commerzbank AG slipped by 1.5 percent. SAP SE and Deutsche Bank AG went down by 0.4 percent and 0.18 percent respectively.

The turnover stood at 5.5 billion euros (around 6.36 billion U.S. dollars). Daimler AG was the most traded share of the day with a turnover of 465.2 million euros. (1 euro = 1.16 U.S. dollars) Endit