Germany’s benchmark DAX index rebounds

Frankfurt, Aug 26 (IANS) The benchmark DAX index at Frankfurt Stock Exchange rebounded and advanced by nearly five percent.

The index rebounded on Tuesday after it lost nearly 500 points on Monday, reported Xinhua.

The blue-chip index opened higher and went all the way up and closed by 479.69 points (4.97 percent). It closed at 10,128.12 points.

The central bank of China on Tuesday cut the reserve requirement ratio (RRR) and lower key interest rates.

According to the German business daily Handelsblatt, China’s move boosted the confidence of investors and brought the DAX index up.

All the 30 DAX member shares went up with Infineon Technologies AG, a semiconductor producer taking the lead. It gained 9.67 percent.

Deutsche Telekom AG rose by 6.41 percent. BMW AG St advanced by 6.36 percent. Deutsche Bank AG added 6.23 percent. SAP SE went up by 5.92 percent.

The turnover stood at 7.77 billion euros (around $8.93 billion). Daimler AG was the most traded share of the day with a turnover of 690.27 million euros (around $793.34 million).

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