Germany's DAX passes record 26,000 mark

Hopes of a rapprochement between the US and Iran pushed Germany's DAX stock market index above the 26,000-point mark for the first time on Monday morning.

The benchmark index rose to 26,005.10 points, up 1.47% from Friday's close. 

Shortly after trading began, the DAX had already exceeded the previous record high of 25,900.10 points reached in early July.

US President Donald Trump announced new talks with Iran at the weekend and at the same time cancelled a major attack he said the US would carry out. 

Oil prices then fell sharply at the start of the week. This eased concerns about rising inflation and the higher interest rates that could follow. The DAX has also been buoyed recently by a strong performance by technology stocks in the US and Asia.

In mid-July, the DAX fell to around 24,650 points after the United States stepped up attacks on Iran again and the price of North Sea Brent crude temporarily rose above the $100 mark.