DAX Rises 0.8% As Investors React To Federal Election Results
(RTTNews) - German stocks are up firmly in positive territory Monday morning with investors digesting the results of the nation's general election, which saw the Christian Democratic Union of Germany (CDU) emerging victorious.
The CDU, led by Friedrich Merz, is reportedly is negotiating to form a coalition government with Social Democratic Party (SPD), which could lead to pro-growth policies and reforms.
Investors also track geopolitical developments and continue to react to the most recent earnings updates.
The benchmark DAX was 174.32 points or 0.78% at 22,438.61 a little while ago.
Rheinmetall is gaining nearly 4% and Vonovia is rising 3.1%. E.ON, Bayer,RWE, BMW, Daimler Truck Holding, Merck and Qiagen are advancing 2 to 3%.
Commerzbank, Continental, Mercedes-Benz, Deutsche Post, Volkswagen, Munich RE, Porsche and Brenntag are gaining 1 to 1.8%.
Siemens Energy is declining nearly 5%. Siemens Healthineers is down 1%, and Infineon is lower by about 0.6%.
On the economic front, a report from Ifo Institute said that the Ifo Business Climate indicator for Germany stood at 85.2 in February, unchanged from the previous month's slightly revised reading. The reading was expected to come in at 85.8.
The Ifo Current Conditions index in Germany dropped to 85.0 in February, from a downwardly revised 86 points in January and below forecasts of 86.5. The Ifo Expectations index in Germany increased to 85.40 points in February, the highest in three months, from an upwardly revised 84.3 in January and above forecasts of 85.2.
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