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DAX Rallies On Growth Optimism

German stocks advanced on Monday, as global bonds stabilized following last week's sharp losses and the U.S. House of Representatives approved a $1.9 trillion coronavirus relief package, helping ease lingering inflationary fears.

The U.S. House passed the $1.9 trillion coronavirus relief package on Saturday, triggering hopes of a faster recovery from the pandemic.

Johnson & Johnson one-shot coronavirus vaccine has been approved in the U.S. for people 18 and over, clearing way for distribution to begin as early as Tuesday.

The benchmark DAX climbed 175 points, or 1.3 percent, to 13,961 after falling 0.7 percent on Friday.

Banks Commerzbank and Deutsche Bank rose over 1 percent each while automakers were trading mixed.

BayWa AG shares rose over 2 percent. The operator in the agriculture, building materials and energy sectors reported that its fiscal 2020 preliminary earnings before interest and tax or EBIT increased 14.3 percent to 215.3 million euros from 188.4 million euros last year.

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