German markets are enjoying positive momentum this Monday, buoyed by the Conservatives’ victory in Sunday’s parliamentary elections.
While there were no major surprises in the election results, investors are hoping that the future government’s economic policy will provide much-needed support for German growth, a crucial factor for the European economy.
A reassuring Conservative victory
The announcement of the results of the German parliamentary elections boosted some markets. Indeed, the victory of the CDU/CSU party, led by Friedrich Merz, enabled the euro to cross a one-month peak of $1.0528, before stabilizing at $1.0481.
The DAX 40 index, the main barometer of Germany’s major companies, opened the session up 0.73%, buoyed by the prospect of a stable, pro-growth economic policy.
The MDAX, an index of medium-sized German companies, also rose by 1.7%, outperforming even the DAX 40, an indication of market confidence in German companies that could benefit from policies favorable to domestic growth.
To continue reading this article, subscribe or log in to your account
Discover our plans
- Every day, keep up to date with the latest business news from the world of luxury.
- Receive the essential luxury business news by email every week
- Access all our events
- The Luxury Journals and Luxus Magazine in print and digital versions
Subscribe for 1€
Become an active member of the community of luxury leaders.
Read also > [STOCK MARKET UPDATE] Arms companies benefit from rising geopolitical tensions
Featured photo : © Abaca Presse
