Germany’s Merz fails to be elected chancellor in shock first-round parliamentary vote

Friedrich Merz failed to get the majority needed to become German chancellor in a parliamentary vote Tuesday.

Merz needed at least 316 votes to become chancellor and only 310 members of parliament voted in his favor.

The German Dax stock market index extended losses after the result to trade around 1% lower by 9:30 a.m. London time.

The result marks an unanticipated setback for Merz who was widely expected to secure the necessary votes and be officially sworn in later in the day.

After the result of the vote was announced the parliamentary session was halted to allow for factions to discuss among themselves. A second vote is expected at some point.

This breaking news will be updated shortly.