Frankfurt equities squeezed out gains Monday after conservatives led by Friedrich Merz won Germany's national election, with investors hoping that Europe's largest economy can emerge from recession.

The euro nudged higher on Monday after Germany's opposition conservatives won the national election as expected, while the dollar trod water amid worries over the growth outlook for the U.S economy. Friedrich Merz was set to become Germany's next chancellor after his party emerged victorious in Sunday's election,