European stocks gain ground after Germany’s election results rule out chances of a purely left-wing coalition
The bear and bull statues outside the Frankfurt Stock Exchange. Picture: BLOOMBERG/ALEX KRAUS
After Sunday’s election, Germany now faces months of negotiations to form a coalition government, with three parties needing to team up to clear the threshold of 50% of Bundestag seats. The likely outcome may be a coalition of the centre-left Social Democrats with the Greens and the liberal FDP. German 10-year government borrowing costs briefly fell in early trade before heading back up to rise to -0.217%, its highest in almost three months.
Such an increase could stoke speculation that global inflation will prove longer-lasting than expected and hasten the end of super-cheap money, favouring reflation trades in bank and energy stocks while bruising bond prices.
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