The benchmark DAX index at Frankfurt Stock Exchange on Monday rallied and closed up by 1.93 percent at 12,039.16 points.

The rally was largely due to the optimism that the Greek government is likely to find a solution to the debt issue, according to local analysts. The blue-chip index added 228.31 points.

Volkswagen AG Vz advanced markedly by 5.32 percent. Deutsche Lufthansa AG gained 4.48 percent and adidas AG climbed by 2.82 percent. Daimler AG added 2.74 percent and Henkel AG & Co. KGaA Vz, a home care product producer, went up by 2.72 percent.

The rally drove 29 among the 30 DAX member shares up. Deutsche Bank AG dropped by 4.59 percent.

The turnover stood at 5.01 billion euros (around 5.45 billion U.S. dollars). Deutsche Bank AG was the most traded share of the day with a turnover of 608.05 million euros (around 661.1 million U.S. dollars). Endit

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