European stocks rose on Monday, driven by Germany’s federal election results and major corporate developments. Germany’s DAX climbed 0.5%, while the UK’s FTSE 100 gained 0.5%, and France’s CAC 40 remained flat in early trading.
Key Market Movers
Germany’s Election Outcome Fuels DAX Gains
- The Christian Democratic Union (CDU) and its ally CSU won 28.5% of the vote, setting the stage for Friedrich Merz to become the next chancellor.
- The far-right AfD secured 20%, while Olaf Scholz’s SPD fell to third place with 16.5%.
- Investors are reacting to potential economic policy shifts under Merz’s leadership.
Prosus (OTC: PROSF) Acquires Just Eat Takeaway for €4.1 Billion
- Dutch investor Prosus is acquiring Just Eat Takeaway.com in an all-cash offer at €20.30 per share.
- The €4.1 billion deal has full backing from Just Eat’s management.
- Prosus, which owns a 28% stake in Delivery Hero, continues expanding its food delivery portfolio.
Belimo Holding AG Reports Strong 2024 Earnings, Increases Dividend
- Swiss HVAC giant Belimo saw net sales jump 13.1% to CHF 943.9 million in 2024.
- EBIT surged 19% to CHF 181.1 million, with strong Control Valves demand driving growth.
- The company raised its dividend by 12% to CHF 9.50 per share amid its robust financials.
Oil Prices Decline as Kurdistan Resumes Exports
- Brent crude fell 0.4% to $73.77 per barrel, while WTI slipped 0.5% to $70.07.
- Kurdistan’s resumption of oil exports and ongoing Russia-Ukraine peace talks weighed on prices.
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