Here is how major stock markets outside the United States ended on Wednesday.
The Dax closed above the 5,000 point mark for the first time in nearly 3-1/2 years, driven by DaimlerChrysler after it offered staff at its Mercedes Car Group voluntary redundancy that aims to cut 8,500 jobs in Germany over 12 months.
"If you look at what's performing today in Germany it's DaimlerChrysler as it looks like they are restructuring at a faster pace than the market expected, and this is precisely what the story is about for markets," said Patrik Schowitz, global equity strategist at HSBC in London.
"Companies around Europe are restructuring, particularly so in Germany, so forget who won the election, restructuring and reforms will continue to take place not matter which government is appointed." Lower-than-expected hurricane damages at reinsurer Munich Re and receding worries that political tensions could hit industrial gas maker Linde in its key Iran market also helped the German index outpace European rivals. Yet, sentiment was also bullish elsewhere in Europe.
The FTSEurofirst 300 index of pan-European blue chips gained 0.9 percent to 1,229.2 points, after a stronger-than-expected rise in new orders for US durable good suggested the US economy was on a firm footing.