Germany's benchmark DAX inches up

The benchmark DAX index at the Frankfurt Stock Exchange on Monday increased by 1.83 percent and closed at 9,510.14 points.

European Central Bank (ECB) President Mario Draghi had said on the central bankers meeting in Jackson Hole that the ECB would use, if necessary, all instruments within its mandate to increase the ongoing lower inflation rate and thus to stimulate the economy.

"From the perspective of the markets, broad asset purchases (QE) have now become more likely," said Commerzbank analyst Lutz Karpowitz in a comment.

All of the DAX 30 companies managed to increase, led by Siemens AG which went up by 2.62 percent. The chemical company BASF SEfollowed with a rise of 2.49 percent. The chemicals and pharmaceuticals manufacturer Bayer AG, BMW AG St and the chemical and pharmaceutical supplier Merck KGaA were also among the top five rises, up by 2.39 percent, 2.32 percent and 2.31 percent respectively.

The German airline Deutsche Lufthansa AG was the one with the least increase on Monday, up by 0.23 percent.

The turnover stood at 2.02 billion euros (about 2.66 billion U.S. dollars) .