Germany's mainstream conservatives led by Friedrich Merz won the country's national election, ensuring that Ukraine has an even stronger supporter in the European Union's largest country and creating hopes for renewal in an economic powerhouse that has been badly battered in recent years.

Germans go to the polls Sunday. Chancellor Scholz's Social Democrats are likely to lose to the conservative CDU party, as the right-wing Alternative for Germany party is likely to make gains.

German stocks rallied on Monday and the euro reached a one-month high after Germany’s election result put centrist parties on track to form a coalition. European shares more broadly held steady, while Wall Street futures rose after a U.