FRANKFURT (dpa-AFX) - On Monday, the DAX broke through the 24,000-point mark for the first time since late June, shrugging off the looming deadline for a resolution to the trade dispute between the United States and the European Union. According to previous statements by US President Donald Trump, additional tariffs on imports from the EU could take effect as of this Wednesday if the EU does not meet US demands on trade issues.

At the close of trading, Germany's blue-chip index was up 1.20 percent at 24,073.67 points, further distancing itself from the 21-day moving average, a key indicator for short-term trends. However, the DAX remains some distance from its roughly month-old record high of 24,479 points.

The MDAX, which tracks mid-cap companies, climbed 1.54 percent to 30,746.88 points on Monday. The Eurozone's leading index, the EuroStoxx 50, rose 1.00 percent to 5,341.54 points.

"Market participants are no longer as easily spooked as they were a few months ago," commented analysts at Deka Bank. They noted that while tariffs are likely to remain in place, the US administration is wary of the self-destructive effects of excessively high tariff rates.

Among the losers were German medical technology firms Siemens Healthineers and Carl Zeiss Meditec, down 0.3 percent and 2.2 percent respectively. China has responded to EU restrictions by imposing counter-sanctions on medical products from the EU. In addition, the threat of US tariffs on European healthcare products continues to loom.

Analyst commentary also moved the markets. Pharmaceutical and technology group Merck KGaA saw its shares drop 1.7 percent, falling to the bottom of the DAX, after investment bank Stifel downgraded its rating from "Buy" to "Sell."

Shares in Krones lost 1.6 percent following a downgrade. Investment bank Oddo BHF cut its rating on the equipment manufacturer from "Outperform" to "Neutral."

A withdrawn "Buy" recommendation from investment bank Kepler Cheuvreux sent Aixtron shares down 2.8 percent. In contrast, Bilfinger led the MDAX, surging 8.9 percent to its highest level since 2014, continuing its rally after Kepler Cheuvreux significantly raised its price target for the stock.

Outside the Eurozone, Switzerland's SMI index and London's FTSE 100 both edged lower on Monday. US stock markets were slightly weaker at the close of European trading./bek/he

--- By Benjamin Krieger, dpa-AFX ---