MARKET NEWS
Euro and German stocks climb after conservatives win election - REUTERS
By Harry Robertson and Wayne Cole
Summary
- DAX up, Euro hits one-month high as Merz wins German vote
- Germany likely heading for centrist grand coalition
- Wall St futures bounce ahead of Nvidia earnings
LONDON/SYDNEY, Feb 24 (Reuters) - The euro and German stocks rallied on Monday as investors welcomed Germany’s election result that put centrist parties on track to form a coalition, although optimism was tempered by potentially tricky negotiations over economic policy.
European shares ticked higher while Wall Street futures also edged up after a sharp U.S. sell-off on Friday.
Friedrich Merz was set to become Germany's next chancellor after his opposition conservatives won the national election on Sunday. Merz should be able to form a so-called grand coalition with the ruling centre-left Social Democrats, even though it slumped to third behind the far-right Alternative for Germany.
