FRANKFURT, Jan. 20 (Xinhua) -- Germany's benchmark DAX index on Monday surged above 21,000 points during the intra-day trading for the first time.
The index closed at 20,990.31 points, up by 0.42 percent over the previous trading day. Earlier in the session, the index hit an all-time high of 21,054.6 points before retreating slightly.
The latest winning streak of the DAX index started on Tuesday last week, with new highs recorded in the following trading days, culminating in its historic breach of the 21,000 mark on Monday.
Despite Germany's economy contracting by 0.2 percent last year, the bullish momentum in German stock markets has continued into the new year.
Traders attributed the surge of the DAX index to reports that the potential imposition of new U.S. tariffs on European imports may not materialise on the day of the U.S. Presidential Inauguration, according to German news agency dpa. ■