DAX sets record high, Zurich recovers as European stocks rally

lunes 16 de marzo de 2015 13:36 GYT

* DAX hits new record highs, over 12,000 points

* Swiss market back near levels before SNB ended franc peg

* FTSEurofirst 300 up 1 pct at 1,594.70 points

* Greek market falls, German FinMin renews attack on Athens

By Sudip Kar-Gupta

LONDON, March 16 (Reuters) - Germany's DAX raced to record highs on Monday, part of an extended European stock market rally driven by investors' expectations that a weakened euro will boost the region's economy and lift exporter earnings.

The European rally also pushed up Switzerland's SMI equity index back towards levels last seen in January, before the Swiss National Bank (SNB) abandoned a three-year peg holding the value of its currency to 1.20 francs per euro. That move had sent the franc soaring and the Swiss share index tumbling.

Fabrizio Quirighetti, head of multi-assets and fixed income at Swiss bank SYZ, said a stabilisation in the franc on currency markets had benefited Swiss companies with big overseas exports.

The DAX, which unlike many other European equity indexes factors in returns from dividends, closed up 2.2 percent at 12,167.72 points, smashing through the 12,000-point level for the first time.   Continuación...