Europe must seek to “achieve independence” from the United States, Germany’s likely next chancellor Friedrich Merz said after exit polls showed his opposition conservatives were on track to win Sunday’s election,

European shares were largely unchanged on Monday, while Germany's benchmark index rose as investors greeted the widely expected victory of Friedrich Merz-led opposition conservatives at the national election.

Germany is set for a shift to the right after the conservative CDU/CSU bloc secured a clear victory in Sunday's elections, as the far-right Alternative for Germany (AfD) recorded its best-ever performance.