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Germany's benchmark DAX index closes up on Thursday

Xinhua, December 9, 2016 Adjust font size:

The benchmark DAX index at Frankfurt Stock Exchange on Thursday surged 192.73 points, or 1.75 percent, and closed at 11,179.42 points.

The index opened solidly higher on optimism about expansive monetary policy of the European Central Bank, and breached the key psychological hurdle of 11,000 points, for the first time in over one year.

The European Central Bank extended its stimulus program surprisingly for an additional nine months to the end of 2017, but cut the monthly purchase from the current 80 billion euros to 60 billion euros.

Additional 5,400 billion euros will be pumped into the euro zone until the end of next year, which added fuel to the stock market and drove DAX to its highest points this year.

Bank stocks led the gains, with Germany's second largest bank Commerz Bank rising as much as 5.21 percent.

The two largest utility companies RWE and E.ON dropped the most on profit-taking, by 3.88 percent and 1.81 percent respectively.

Daimler was the most traded share of the day with a volume of 524.69 million euros (564.67 million U.S. dollars). Endit