FRANKFURT, Sept. 19 (Xinhua) -- Germany's benchmark DAX index surpassed 19,000 points for the first time during intraday trading on Thursday.
The euphoria at the Frankfurt Stock Exchange, which propelled the index above the 19,000 mark, has been attributed to the Federal Reserve's surprise rate cut in the United States.
According to analysts, investors are optimistic that the 50-basis-point rate cut by the Federal Reserve will lower borrowing costs and stimulate investment and private consumption in the U.S. and globally.
The European Central Bank has also cut interest rates by 25 basis points in September to ease its restrictive policies and support economic recovery in the euro area.
The index was hovering just below 19,000 as this story was filed. ■
