Advertisement
Singapore markets closed

  • Straits Times Index

    3,287.75
    -5.38 (-0.16%)
     

  • S&P 500

    5,004.24
    -67.39 (-1.33%)
     

  • Dow

    37,821.15
    -639.77 (-1.66%)
     

  • Nasdaq

    15,443.70
    -269.05 (-1.71%)
     

  • Bitcoin USD

    63,395.68
    -1,670.71 (-2.57%)
     

  • CMC Crypto 200

    1,371.76
    -10.81 (-0.78%)
     

  • FTSE 100

    8,064.24
    +23.86 (+0.30%)
     

  • Gold

    2,346.20
    +7.80 (+0.33%)
     

  • Crude Oil

    82.10
    -0.71 (-0.86%)
     

  • 10-Yr Bond

    4.7120
    +0.0600 (+1.29%)
     

  • Nikkei

    37,628.48
    -831.60 (-2.16%)
     

  • Hang Seng

    17,284.54
    +83.27 (+0.48%)
     

  • FTSE Bursa Malaysia

    1,569.25
    -2.23 (-0.14%)
     

  • Jakarta Composite Index

    7,155.29
    -19.24 (-0.27%)
     

  • PSE Index

    6,574.88
    +2.13 (+0.03%)
     

German stocks drop as coalition talks collapse

AFP

Germany's main stocks index fell in early trading on Monday, although not by the huge amount feared, after the country's collapse of talks to form a new government.

About 25 minutes after the open, Frankfurt's blue-chip DAX 30 was down 0.3 percent at 12,956.2 points compared with Friday's close.

The Paris CAC 40 index meanwhile lost 0.2 percent to 5,310.27 points and outside the eurozone, London's benchmark FTSE 100 shed 0.4 percent to 7,351.13.

"European shares are trading lower... dragged down by German Chancellor (Angela) Merkel failing to form a coalition government," said Markus Huber, a trader at City of London Markets.

ADVERTISEMENT

"Hence the markets are getting a massive dose of what they like the least, namely uncertainty."

Germany, which is Europe's top economy, could now be set for a snap general election with no fresh viable coalition in sight.

Merkel in September won her fourth national poll victory, but bled more than one million votes to the far-right AfD, plunging her own party into weeks-long coalition talks that have now failed.