"We have the first phase of the coronavirus pandemic behind us," German Chancellor Angela Merkel said on Wednesday and added that Germany has reached its goal of slowing down the spread of the virus and protecting the health care system.

Additional takeaways

"Current situation means it was possible to decide today on more steps to ease lockdown."

"Guidelines on keeping distance of 1.5 metres, covering mouth and nose remain."

"Until June 5, contact with others will remain limited."

"People from two households can now meet up."

"We want to avoid infections quickly spreading again hence social distancing."

"We have agreed if we have regional differences, lower infection numbers need mechanism to take measures in certain places."

"Elderly people should be able to have one person who can visit them."

"Shops can reopen with hygiene measures."

"Bundesliga can be played from second half of May."

Market reaction

Germany's DAX 30 Index struggled to stage a decisive recovery despite this announcement. As of writing, the index was down 0.17% on the day at 10,710.84 points.