DAX index soars to pre-crisis heights

Germany's DAX index of blue-chip stocks hit 6,405.30 points early on Wednesday, a level last seen two years ago before the collapse of the US investment bank Lehman Brothers.

DAX index soars to pre-crisis heights
Photo: DPA

The last time the DAX breached 6,400 points was on September 4, 2008, which was 11 days before the Lehman bankruptcy sent global financial markets into a freefall.

The DAX then slumped to below 3,800 points in March 2009 before gradually climbing back as Germany emerged from its worst recession since World War II.

Asian and other European stock markets also gained after the US Federal Reserve revealed on Tuesday that it might provide more monetary stimulus to underpin a hesitant economic recovery in the United States.

The DAX was also boosted by a positive fourth-quarter sales and margins forecast from the US technology firm Intel (INTC.O), which raised hopes that the technology sector could end 2010 on a strong note.

The index, which is made up of the 30 major firms trading on the Frankfurt Stock Exchange, gained 1.5 percent to reach the new two-year high.

Overnight, Intel announced better-than-expected earnings results, which came after the closing bell Tuesday in New York. Intel said its net income for the third quarter leaped 59 percent to $2.95 billion (€2.1 billion) and sales rose 18 percent, both beating analyst expectations.

AFP/The Local/dw

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Emergency numbers fail in several German states

Callers to the emergency numbers 110 and 112 weren’t able to reach operators Thursday morning in several German states.

The 112 emergency number on an ambulance.
The 112 emergency number on an ambulance. Photo: picture alliance/dpa | Boris Roessler

The emergency number 110 for police and 112 for fire crews failed around the country early Thursday morning, with callers unable to reach emergency operators for urgent assistance between about 4:30 am and 5:40 am local time.

The Office for Civil Protection and Disaster Aid is looking into these outages, which were reported in states including Lower Saxony, Baden-Württemberg, and  Brandenburg, and in major cities like Berlin, Cologne, Hamburg, and Frankfurt. Cologne was further affected by cuts to electricity, drinking water, and regular telephone services. Lower Saxony also saw disruptions to the internal phone networks of police and hospitals.

Emergency services are not reporting any more disturbances and people should be able to once again reach 110 and 112 around the country as normal.

Investigators are looking into the problem, but haven’t yet established a cause or any consequences that may have happened due to the outage. Provider Deutsche Telekom says they have ruled out the possibility of an attack by hackers.