The German DAX index opened 0.4 percent higher into the new week and reached a new high of 9,017 points on Monday (October 28).

Frankfurt trader Robert Halver of Baader bank said "what we are seeing right now is a pure liquidity high," adding "we are far from concerned so far because the worldwide monetary policy inJapan, at the ECB and in the United States will remain very ample."

Asked whether the current debate on Chancellor Angela Merkel's tapped mobile phone had any consequences on the markets, Halver said "we all know, in Germany as well as in the United States, that the worst case will not happen: I do not see the free trade agreement with the United States in danger."

On Thursday, the leader of Germany's Social Democrats (SPD), Sigmar Gabriel, said it would be hard to imagine agreeing a free trade deal with the United States if the U.S. was infringing citizen's rights and privacy.

The SPD and Merkel's conservatives are currently engaged in talks on building a new coalition government.

Some two hours into trading, the DAX was below the 9,000 points mark again, hovering around 8,995 points, an increase of 10 points or 0.1 percent.

Presented by Adam Justice