1312 GMT - The future direction of Germany's DAX could be more influenced by the implications of the U.S. election for trade policy and economic stimulus measures in China than by the collapse of the German government coalition, UBS Global Wealth Management's Maximilian Kunkel says in a market comment. The DAX rises 1.3% despite political uncertainty created by German Chancellor Olaf Scholz's move to dismiss Finance Minister Christian Lindner, chairman of the pro-business Free Democratic Party. This is due to the DAX's exposure to international markets and sector composition, Kunkel says. Early elections in Germany could lead to structural reforms and higher spending, according to UBS Global Wealth Management. Small and medium-sized companies more geared toward the domestic market would be the main winners, Kunkel adds. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
November 07, 2024 08:12 ET (13:12 GMT)
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