Germany's blue-chip index DAX ends year with 26 percent gain

Mon Dec 30, 2013 8:18am EST

Dec 30 (Reuters) - Germany's blue-chip index DAX closed the year with a gain of 26 percent on Monday, strongly outpacing pan-European indexes as investors favoured shares from the region's biggest economy.

The strong annual gains for the DAX - home of bellwethers such as Siemens, BMW and Deutsche Bank - followed a rise of 29 percent last year.

The index, which includes dividends in its calculation, hit a record high of 9,594.35 points in early trade on Monday, before drifting lower and closing 0.4 percent lower on the day.

By comparison, the FTSEurofirst 300 index of top European shares has risen 16 percent in 2013.

Frankfurt's stock market closed at 1300 GMT on Monday and will remain closed on Tuesday and Wednesday for the New Year break.

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