DAX Gains On Relief At French Election Results

DAX Gains On Relief At French Election Results

German stocks advanced on Monday as investors reacted positively to the first round of the French election results.

French far-right\'s significant win in the first round of parliamentary elections wasn\'t as impressive as expected, leaving the final result dependent on party deals before a second-round next weekend.

Meanwhile, investors shrugged off the results of a survey showing that Germany\'s manufacturing sector experienced a fresh setback at the end of the second quarter.

The HCOB final Purchasing Managers\' Index (PMI) for German manufacturing fell to 43.5 in June from 45.4 in May, confirming a preliminary flash estimate.

The benchmark DAX was up 95 points, or half a percent, at 18,331 after edging up 0.1 percent on Friday.

Wind turbine manufacturer Nordex fell about 1 percent despite receiving an order from Aquila Clean Energy for 123.9 MW in Spain.

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