BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - German stocks rose notably on Monday to extend gains from the previous session after the United States and China announced they had struck a 'phase one' trade agreement.
Meanwhile, China's ambassador to Germany warned Berlin that 'there will be consequences' if the Chinese telecoms giant Huawei is excluded from the German market. 'The Chinese government will not stand idly by,' Ambassador Wu Ken said.
The benchmark DAX climbed 91 points, or 0.69 percent, to 13,374 after rising half a percent on Friday.
Adidas, Deutsche Bank, Deutsche Boerse, E.ON and RWE climbed 1-2 percent.
In economic releases, Germany's private sector contracted again in December as growth across the service sector continued to be offset by a downturn in manufacturing, survey results from IHS Markit showed.
The composite output index held steady at 49.4 in December. The services Purchasing Managers' Index improved to a four-month high of 52.0 from 51.7 a month ago while the manufacturing PMI dropped to 43.4 from 44.1 in the previous month.
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