European stock markets moved higher Monday as election results rolled in from the European Union and Ukraine. Germany’s DAX index led the way with a 1.3% rise. Spain’s IBEX gained 1.2%, while France’s CAC 40 added 0.8%. The euro recovered from earlier declines against the dollar.
Investors seemed relieved as results showed traditional left-center and right-center parties will hold a majority of seats in the European Parliament. However, many voters were increasingly supportive of anti-EU protest parties, which gained significant traction in France, the U.K. and Greece.