The leading German index is on a downward trend this year – despite the recent recovery.
(Photo: Bloomberg Creative/Getty Images [M])
Frankfurt The deteriorating economic prospects are unsettling investors in the German stock market. The leading index Dax was down around one percent on Wednesday morning at 14,276 points. Among the winners are financials, which are benefiting from rising bond yields. Auto stocks, on the other hand, are among the biggest losers.
The United States and its allies want to further tighten the thumbscrews on the Russian economy because of the war in Ukraine. A package coordinated with the G7 countries and the EU is to be presented on Wednesday. The risk of an oil and gas embargo, which the EU has so far avoided, is increasing day by day and with it the inflation and economic risks for Europe, commented the analysts at Commerzbank.
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