FRANKFURT, Sept 27 — Germany’s blue-chip DAX and other European stock indexes opened higher today after Finance Minister Olaf Scholz’s Social Democrats won a tight election over the conservatives of outgoing Chancellor Angela Merkel.
Businesses breathed “a big sigh of relief” that the far-left Die Linke party is unlikely to enter government after a poor performance at the polls, said Holger Schmieding, chief economist at Berenberg Bank. Avoiding this “worst-case scenario” for business was a “good sign for stability”, said president of the Family Companies Association Reinhold von Eben-Worlee.
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