The German Dax is on its way to rounding off its best year since 2003, as bulls say the gauge will become the first national benchmark in the eurozone to exceed its 2007 peak for earnings.
Bloomberg reports that the index advanced by 29 per cent throughout 2012 to close of play last week, which is the biggest advance out of every developed market tracked by the news agency apart from Greece.
This progress has been underpinned by the European Central Bank's (ECB) plans to buy the bonds of the most indebted eurozone states.
As such, this year's performance marks a rebound from a 15 per cent dip in 2011, when investors sold the Dax as a proxy for southern European markets, where authorities had prohibited short selling.
At 14:22 GMT, the German Dax rose by 0.4 per cent to 7666.9 points – an increase of 30.7 points.
Find CFD trading strategies for the European markets at City Index.
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.