Volkswagen shares close 5.19% up after CEO's resignation

Stocks in German auto giant Volkswagen closed 5.19 percent higher today after a two-day rout over a widening pollution test cheating scandal.

The share ended the day at 111.50 euros just minutes after Volkswagen chief executive Martin Winterkorn announced his resignation. The higher close booked by the heavyweight also lifted the DAX, which finished the session 0.44 percent ahead at 9,612.62 points.