Dusseldorf News about Germany’s gas supply caused the local stock market to start the week with losses. At the close of trading on Monday, the leading index Dax was down 0.3 percent at 13,210 points.
After the Dax had been in the black for a long time, it turned negative in the afternoon when it became known that the Russian gas company Gazprom was reducing deliveries through the Nord Stream 1 Baltic Sea pipeline to 20 percent. With a minus of almost 130 points to the daily high, the discount remained moderate.
The gas price reacted clearly: The European future rose by around ten percent to 177 euros per megawatt hour.
The Frankfurt stock market barometer closed the past week with a plus of 3.0 percent – that was the largest weekly gain since March. The weekly profit was mainly based on the strong growth on Tuesday, when it became known that Gazprom was again supplying gas to Germany after the repair work.
Top jobs of the day
Find the best jobs now and
be notified by email.
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue