Oct. 25 - Germany's DAX index of 30 top companies has risen to an all-time high above 9,000 points. Market analysts say German stocks have profited from the recent political stalemate in the United States. Joanna Partridge reports.
It just keeps rising and now Germany's DAX has hit an all-time high. The index of 30 top companies briefly rose above the 9,000 level for the first time on Friday. Market watchers had been waiting for record level to be reached for the last couple of days. Even Friday's disappointing figure from the Ifo German business confidence survey wasn't enough to stop the DAX's progress, says trader Arthur Brunner. SOUNDBITE: ICF PENSIONS EXPERT AND TRADER, ARTHUR BRUNNER, SAYING (German): "The Ifo numbers came out worse than expected. We might have been too optimistic. The market didn't really react to that." German stocks have profited from the recent political stalemate in the United States. That's seen money flow from the U.S. to Europe. Equities have also been helped higher by market expectations that the U.S. Federal Reserve won't start tapering its stimulus programme until spring 2014 at the earliest. The German rally is expected to continue in the short term. There's already speculation when the DAX will hit 10,000 points. But there are warnings the market could get ahead of itself, and German economic and business data may not be able to keep pace.