Germany's benchmark DAX index hits new record high

The benchmark DAX index at Frankfurt Stock Exchange on Monday rallied and hit a new record high of 12,219.05 points.

The blue-chip index advanced markedly by 266.11 points, or 2.24 percent and closed at 12,167.72 points.

Investors seem to have no fear of Greece's debt issue and they can face up to any development including the scenario of Greek exit from the euro zone.

On the other hand, the loose monetary policy of the European Central Bank has been propping up the index, according to the German business daily Handelsblatt.

All of the 30 DAX member shares managed to rise with K+S Aktiengesellschaft, a standard and specialty fertilizers produer, taking the lead, climbing by 4.2 percent.

Merck KGaA, a chemical and pharmaceutical company, advanced by 3.22 percent. Volkswagen AG Vz rose by 3.01 percent. Daimler AG added 2.89 percent and Allianz SE went up by 2.86 percent.

The turnover stood at 5.14 billion euros (around 5.39 billion U.S. dollars). Daimler AG was the most traded share of the day with a turnover of 457.2 million euros (around 479.73 million U.S. dollars). Endit