European shares steadied on Monday as Germany's election produced no nasty surprise, while Wall Street futures firmed on hopes results from AI diva Nvidia this week would justify the tech sector's sky-high valuations.

Merz expressed concern over changing relations with Washington under the Trump administration, emphasizing the need for gradual independence from the U.S.

Friedrich Merz is on course to become post-World War II Germany’s 10th chancellor, the culmination of a yearslong political career that was once sidelined by his party’s iconic leader

Friedrich Merz was set to become Germany’s next chancellor after his opposition conservatives won the national election on Sunday. Merz should be able to form a so-called grand coalition with the ruling centre-left Social Democrats, even though it slumped to third behind the far-right Alternative for Germany.

The centre-right CDU has emerged as the biggest party in the German election, making Merz the most likely to lead a government, following coalition negotiations.

German conservative leader Friedrich Merz spent the past two months excoriating the country’s Social Democrats — blaming them for a stagnating economy, uncontrolled illegal migration and the rise of the far-right.

Friedrich Merz, a man who has never held a government role, is preparing to take the reins in Germany just as the country faces its biggest economic and diplomatic crises in decades and Europe looks urgently for a new generation of leaders for an era of transatlantic tension.

Friedrich Merz is set to become the next Chancellor at a time of great tumult at home and abroad, writes John Kampfner.