Austrian and German stock markets rise amid geopolitical tensions

European stock markets showed positive momentum at the start of the week. The Austrian ATX index rose by 1.01 percent to 6,609.76 points, supported significantly by Lenzing, which saw its shares climb by over 8 percent.

In Germany, the DAX closed up 0.76 percent at 25,277.68 points, aided by comments from Chancellor Friedrich Merz regarding a potential reduction in electricity tax.

Geopolitical tensions remain a primary focus for market participants. In the Middle East, negotiations regarding the opening of the Strait of Hormuz continue, with Iran reviewing a proposal from the United States. Additionally, conflicts involving the Houthi militia and Saudi Arabia have escalated.

Regarding the war in Ukraine, President Volodymyr Zelenskyy has called on the United States to ensure Russia adheres to a limited energy-related ceasefire announced by Donald Trump. The Kremlin stated it is seeking a permanent peace rather than a mere ceasefire.