The German DAX reached a new all-time high on Tuesday, as the index surpassed the level of 16,528 points. German stocks climbed after better-than-expected inflation data as well as the latest economic reports.

According to S&P Global and Hamburg Commercial Bank Germany Services, PMI Business Activity rose 1.4 index points in November in comparison to the previous month.

After reaching its highest level for the day at 16,551.34 points, the DAX rose 0.70%, boosted by Daimler Truck and Siemens Energy, which were up 3.47% and 2.83% at 5:19 pm CET.