The hope of more cheap central bank money brought record levels to the German stock market at the beginning of the week.

Both the leading index Dax and the M-Dax of medium-sized stocks as well as the secondary stock index S-Dax achieved all-time highs.

The Dax had passed the 15,800 point mark for the first time in early trading and recently rose 0.4 percent to 15,757 points.

His record high is now just under 15,803 points.

The M-Dax gained 0.5 percent to 34,192 points.

For the S-Dax it went up by 0.6 percent.

The Euro Stoxx 50, the leading index for the Eurozone, rose by 0.4 percent.

The worries about inflation and thus about rising key interest rates had already subsided noticeably last week and no longer burdened the markets.

Instead, the European Central Bank is sticking to its extremely expansionary monetary policy for the time being.

Market participants are also assuming that the US Federal Reserve will not change its very relaxed stance on Wednesday either - despite the economic recovery and recently a significant rise in inflation.

The Fed regards the sharp rise in prices as merely a transitional phenomenon.

At the beginning of the week, shares from the renewable energies sector were in demand.

Siemens Energy's papers gained around two and a half percent at the top of the Dax.

The shares of the wind turbine manufacturer Nordex increased in the MDax by around four percent.

At their G7 summit over the weekend, the leading western industrialized countries demonstrated new unity on common climate targets, among other things.

A buy recommendation from Commerzbank pushed the K + S shares by a good two percent.

Rising potash prices drove the fertilizer manufacturer's profits.

How high will the Dax rise?

UBS sees the Dax as having a chance of another breakout above its record high.

This currently stands at 15,732 points.

The Dax achieved it a week ago.

After a somewhat weaker course, it had approached the high again on Friday.

More records could already follow this week, according to the forecast of the chart technicians of the major Swiss bank in a study on Monday.

On the underside, however, the air becomes thinner.

Above the current record, further gains of up to 15,775 and 15,850 points would be the result, it said. At the same time, the experts warn of a significant correction at this level. The 16,000 mark would be achievable if the index passed the hurdle at 15,850 points. In the event that the Dax should slide below 15,600 points, this could lead to a small sell-off and initially cause the index to drop directly below 15,501 points.