LIVE MARKETS-Markets take the positives from German election

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MARKETS TAKE THE POSITIVES FROM GERMAN ELECTION

German shares are outperforming this morning, albeit in a slightly choppy manner, with the blue chip DAX .GDAXI up 0.5%, midcaps surging 1.7%, .MDAXI and small caps up 0.65%, .SDAXI enjoying an election result that was among the more market friendly of the possible outcomes.

There's a long way to go in negotiations over a government, and further when it comes to debt brake talks, but markets are still seeing the positive from an almost certain grand coalition.

The broad STOXX 600 was a touch higher,.STOXX and the only other national benchmark to note was the Swiss market index .SSMI which hit a record high.

Deals were driving the big single-stock moves. Just Eat TKWY.AS is up over 50% after Prosus PRX.AS said it would by the firm for 4.1 billion euros ($4.3 billion) to create an European food delivery "champion".

The market is less sure about whether it's a good deal from Prosus' perspective, its shares are down 7%, near the bottom of the STOXX, though it does like what it means for Delivery Hero DHER.DE up 7%.

Norway's Subsea 7 SUBC.OL and Italy's Saipem SPMI.MI also announced a merger. Subsea is up 6% and Saipem down 1%.

(Alun John)

EARLIER LIVE MARKETS POSTS

EUROPE BEFORE THE BELL: BUY THE RUMOUR, BUY THE FACT CLICK HERE

MORNING BID: RELIEF AS GERMAN VOTE DODGES EXTREMES CLICK HERE