German stocks and the euro rise after Merz wins national election in Germany
Kyiv • UNN
After the Conservatives won the German election, defense stocks rose to 2.8%. Germany's benchmark index added 0.4%, and the euro hit a one-month high of $1.0528.
European stock markets were "cautious" on Monday, but now we know that German stocks and the euro are rising amid the German election results.
The German Comparative Index and the shares of defense companies Hensoldt, Rheinmetall, and Renk rose.
Reported by UNN with reference to Reuters and Finanza Online.
European stock exchanges were cautious after the German elections, which generally met expectations.
German stocks rose on Monday as investors welcomed the German election results, which allowed center-left parties to form a coalition.
Germany's benchmark index rose by 0.4%, driven by arms manufacturers. Shares of defense companies Hensoldt, Rheinmetall, and Renk rose between 1% and 2.8% after the German conservatives won the national elections as expected.
The euro rose to a one-month high of $1.0528 before settling 0.22% higher at $1.0481 in the last trade.
Overall , European stocks were up, while Wall Street futures were also slightly higher after a sharp sell-off in the US on Friday.
It was also reported that the pan-European STOXX 600 index was down 0.1% as of 08:10 GMT, which was caused by a drop in basic materials due to lower metal prices.
Recall
According to the results of counting 100% of the votes, the CDU/CSU bloc received 28.6% in the Bundestag elections. Alternative for Germany is in second place with 20.8%, the SPD is third with 16.4%
