German stocks rallied on Monday, with a sharp pullback in oil prices and hopes of progress in Russia-Ukraine talks boosting sentiment.
Oil prices fell around 4 percent as a coronavirus lockdown in Shanghai fueled worries about weak demand.
Russia and Ukraine will restart face-to-face peace negotiations today after the former signaled that it may scale down its war aims to concentrate on eastern Ukraine.
Ukrainian President Volodymyr Zelenskiy, meanwhile, said the country was willing to assume neutral status and compromise over the status of the eastern Donbas region.
The benchmark DAX jumped 195 points, or 1.4 percent, to 14,500 after inching up 0.2 percent on Friday.
Automakers surged, with BMW and Volkswagen rallying around 1.5 percent each.
Daimler Truck rose 1.2 percent. CEO Martin Daum has said in an interview with Financial Times that the electric truck costs would be higher forever than the internal combustion engine-powered ones.
DAX Rallies As Oil Prices Tumble On Demand Concerns
2022-03-28 09:01:25
