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The DAX began weakly, weighed down by concerns over the outcome of the state election in Saxony-Anhalt and rising oil prices. German production fell in July, while the ECB anticipates an interest rate hike.
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The AfD narrowly missed an absolute majority in the state election in Saxony-Anhalt but is expected to govern. An AfD government could influence administration and justice, roll back equality policies, and alter economic and climate policies.
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In the Saxony-Anhalt state election, the AfD won 38 out of 41 direct mandates, while the CDU secured none. The AfD claims a mandate to govern after their victory, but the CDU rejects a debate about Friedrich Merz.
Global EconomyClimate ChangeWeather & Natural Disasters
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The World Meteorological Organization (WMO) predicts with almost 100% certainty that El Niño will continue until February 2027. This weather phenomenon, which raises global temperatures, could intensify further and have far-reaching climatic impacts until 2027, including droughts and floods.
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Actress Susan Sarandon states she has lost film roles due to her pro-Palestine stance. This comes amid accusations against Mark Ruffalo, defended by George Clooney, and an open letter from over 170 Jewish figures.
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The state election in Saxony-Anhalt could for the first time enable the appointment of an AfD politician as Minister-President. Political scientist Petra Dobner calls the election historic but emphasizes that the result currently applies to Saxony-Anhalt and is not directly transferable to federal politics.
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Turkey has raised its inflation forecast for the end of the year to 28.4%. The Middle East war is cited as the main reason for the adjustment, with estimated impacts of around seven percentage points on inflation.
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Elon Musk and former US Ambassador Richard Grenell congratulated the AfD on their success in the state election in Saxony-Anhalt. Donald Trump also shared an image of the election results, while a Russian special envoy spoke of a historic victory.
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The AfD achieved an election victory in Saxony-Anhalt. Meanwhile, the funeral of convicted war criminal Ratko Mladić in Belgrade strains Serbia's EU membership aspirations, despite EU warnings against glorification.
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