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LONDON ( The Deal) -- Greece's anti-austerity party, Syriza, swept to victory in Sunday's general election on a promise to renegotiate the terms of its European Union and International Monetary Fund bailout although it is still two seats short of a parliamentary majority.

But the major European markets seem to have taken this supposed threat to the eurozone in stride. That more relaxed mood was helped by the publication of a German business confidence index, showing a better-than-expected rebound from the lows reached in October. The Ifo Institute index reached 106.7 in January on the basis of a falling oil price and a weaker euro, which should boost German exports.

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By late morning in Paris, the CAC 40 was trading up 0.22% at 4,651 and Frankfurt's DAX index was up 0.53% at 10,706. Even Greece's own Athens Stock Exchange index recovered sharply in early trading after a hefty slide at the open, and at one point even passed Friday's closing level of 840.44. By early afternoon local time it was down 1.8% at 825.16.

The first question facing Syriza leader Alexis Tsipras as he tries to form a new government is whether he brings in an even more radical anti-European party to his left or a more moderate pro-European partner to his right. Then the negotiations start with country's international creditors -- and that's possibly where the trouble will start.

Not everything on the markets was sweetness and balm this morning, however, as London's FTSE 100 edged downward by 0.33% to 6,812. The commodities heavy index was spooked by signs of a further slowdown in China as well as the sliding oil price. The biggest fallers were oil companies such as Tullow Oil (TUWOY) , down 3.42%, and miners such as Anglo American (AAUKY) , down, 3.4%.

In Asia, Tokyo's Nikkei 225 closed down 0.25% at 17,469, Hong Kong's Hang Seng finished up 0.24% at 24,909.90. In China, the Shanghai composite climbed 0.94% to finish at 3,383.18. Must Read: 10 Stocks Carl Icahn Loves for 2015: Apple, eBay, Hertz and More

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European Stocks Are Mixed After Greece's Anti-Austerity Party Wins