German elections 2021: Social Democrats barely won the federal elections

The latest reports by economic analysts indicate that Social Democrats (SPD) managed to win the German federal elections. In particular, we are reading that: 

The German federal elections are completed! Social Democrats barely won the German Election. Technical analysts suggest: 

• Germany's centre-left Social Democrats (SPD) managed to win the German federal elections, defeating the party of outgoing Chancellor Angela Merkel, based on the preliminary results.

• The SPD secured 25.7% of the vote, while the ruling conservative CDU/CSU bloc gained 24.1%.

• The EUR/USD pair was slightly changed after Sunday’s election (September 26), trading at 1.1722 on Monday, moderately above Friday’s low of 1.1700.

• Germany's DAX futures are up 85 points (0.55%), while the cash market is currently estimated to open at 15,616.75.

• The pan-European Stoxx 600 rose 0.4% in early trade, with oil and gas stocks adding 1.9% to lead gains while all sectors and major bourses entered positive territory.

• U.K. energy stocks like BP will be watched, after panic buying during the weekend due to a truck driver shortage which left various gas stations in Britain without any fuel. BP shares gained 2.1% in early trade.

• Gambling company Kindred Group fell 3.6%.

(Sources: bbc.com / cityindex.co.uk / dailyforex.com / cnbc.com)

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