European markets rally as German election results set stage for new leadership

Investing.com -- European markets opened higher on Monday as traders reacted to the results of Germany’s federal election. 

As of 03:13 ET (08:13 GMT), Germany’s DAX rose 0.5%, while France’s CAC 40 remained unchanged and the UK’s FTSE 100 gained 0.5%.

Exit polls indicate that the conservative Christian Democratic Union (CDU) and its Bavarian ally, the Christian Social Union (CSU), won 28.5% of the vote, positioning Friedrich Merz as Germany’s next chancellor.

The far-right AfD came in second with 20%, while Olaf Scholz’s Social Democratic Party (SPD) finished third with 16.5%, according to ZDF data.

Prosus (OTC:PROSF) to buy Just Eat Takeaway for €4.1 billion

Dutch tech investor Prosus announced plans to buy Just Eat Takeaway.com for €4.1 billion on Monday in an all-cash public offer on the Amsterdam exchange.

The offer, at €20.30 per share, has unanimous support from Just Eat’s management and supervisory board. Prosus, majority-owned by South Africa’s Naspers, currently holds a 28% stake in Delivery Hero.

Belimo reports strong 2024 results, raises dividend

Swiss HVAC specialist Belimo Holding AG reported exceptional 2024 results, with net sales rising 13.1% to CHF 943.9 million and EBIT climbing 19% to CHF 181.1 million.

Growth was driven by strong performance in the Americas and high demand for Control Valves. The company expects continued expansion in 2025, projecting an EBIT margin of 18-20%.

In response to its strong financial position, Belimo increased its dividend by 12% to CHF 9.50 per share.

Crude oil prices dip as Kurdistan exports resume

Oil prices edged lower on Monday amid expectations of a resumption of exports from Kurdistan’s oilfields. Investors are also awaiting further clarity on Russia-Ukraine peace talks.

At 03:13 ET, Brent crude fell 0.4% to $73.77 per barrel, while WTI dropped 0.5% to $70.07 per barrel.