FRANKFURT: German stocks climbed more than 3.0 percent on the Frankfurt stock exchange on Monday afternoon in line with other European markets, building on strong gains earlier in the day.
The blue-chip DAX 30 index shot up 3.14 percent to an intraday high of 9,249.46 points. The biggest gainers included energy giant E.ON, which rose by 6.22 percent, and embattled auto giant Volkswagen shares which were up 6.25 percent.
The Madrid market likewise raced ahead, the Ibex 35 index posting a 3.3 percent rise in early afternoon trading led by banks.
Markets had already jumped higher on Friday, ending a brutal week on a positive note following solid US and German economic data and an increase in oil prices.
But the mood on Monday also brightened as Japanese investors shrugged off an economic contraction to propel Tokyo stocks more than seven percent Monday, leading an Asia recovery after last week's horror show.
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