DAX Rallies As Israel Weighs Response To Iran’s Attack

German stocks rallied on Monday amid hopes that the Middle East conflict could be contained.

Iran told the United Nations the barrage of drone strikes fired on Saturday towards Israel was a “legitimate” defensive response to the attack in Damascus on April 1, which killed seven members of Tehran’s Revolutionary Guard, including two generals.

It added on social media that “the matter can be deemed concluded” but warned that “should the Israeli regime make another mistake, Iran’s response will be considerably more severe”.

The benchmark DAX was up 143 points, or 0.80 percent, at 18,073 after ending 0.1 percent lower on Friday.

In corporate news, sportswear maker Adidas jumped 4.4 percent after Morgan Stanley upgraded its rating on the stock to “overweight” from “underweight.”