Germany’s benchmark DAX index closes up

Frankfurt, Oct 8 (IANS) The benchmark DAX index at Frankfurt Stock Exchange closed up at 9,970.40 points.

The blue-chip index recaptured the psychological 10,000 level owing to impulse of the strong rebound of Volkswagen shares, Xinhua reported.

In addition, market participants were increasingly convinced that the worldwide extremely low interest rates would remain, that was also reflected on the US-Futures, according to Handelsblatt. The DAX index rose by 67.57 points, or 0.68 percent.

The German largest automobile producer Volkswagen AG, which suffered amid emissions scandal, regained momentum remarkably, with advancing dramatically by 7.12 percent on Wednesday.

New Volkswagen CEO Matthias Mueller presented a time-table for recalling all problem cars, that was positively evaluated by investors.

Meanwhile, BMW AG St was up by 4.28 percent and Daimler AG up by 2.35 percent. In contrast, Fresenius SE & Co. KGaA and Deutsche Borse AG dropped, respectively, by 2.54 percent and 2.46 percent .

The turnover increased to 4.32 billion euros (around $4.86 billion. Volkswagen AG was the most traded share of the day with a turnover of 423.05 million euros. (1 euro = $1.12).

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