German markets continue to gain after US election

leading German stock market index continued to make gains one day after US election, which remained undecided.

Dax advanced by 1.09 percent to 12,458.49 points in early trading.

MDax of 60 mid-sized stocks gained 1.15 percent to 27 553.83 points.

EuroStoxx 50, leading index of eurozone, also recorded a gain of more than one percent.

German markets are reacting positively to Democratic contender Joe Biden's increasing chances to clinch US presidency.

" DAX is pleased," said Robert Halver, Head of Capital Market Analysis at Baader Bank.

"If we take vote count as of w, Joe Biden will become US President. That is good for Europe, good for Germany," Baader Bank chief analyst added.

Democrat Joe Biden was pushing closer to 270 Electoral College votes needed to carry White House, securing victories in "blue wall" battlegrounds of Wisconsin and Michigan, and narrowing President Donald Trump's path.

With just a handful of states still up for grabs, Trump tried to press his case in court in some key swing states, It was unclear if any of his campaign's legal maeuvring over balloting would succeed in shifting race in his favour.