European stocks fall as traders react to German election results

European markets opened lower on Monday, as investors reacted to the results of the German federal election.

The pan-European STOXX 600 index was little changed after the opening bell, with major sectors and bourses trading mixed. Germany’s DAX rose 0.8% to 22,466.22 points.

According to CNBC, the FTSE 100 in the United Kingdom was flat at 8,666.53 points, while France’s CAC 40 fell 0.23% to 8,135.21 points.

Opinion polls show the conservative Christian Democratic Union and its Christian Social Union allies have won the largest share of votes in Sunday’s election, with the coalition’s candidate Friedrich Merz set to take over as chancellor of Europe’s largest economy from Olaf Scholz.

The CDU-CSU won 28.5% of the vote, while the far-right Alternative for Germany party came in second with 20% and Schulz’s Social Democrats came in third with 16.5%, according to poll data from broadcaster ZDF.