Dax returns initial gains

Frankfurt The Dax gave back initial price gains on Thursday. At midday it turned negative and closed in the late afternoon with a loss of 1.3 percent at 14,414 points.

The other European indices also recorded losses, and the US stock exchanges were also below the level of the previous day in the late afternoon.

Initially, the weaker oil price ensured slight gains. This fell on Thursday. This was due to speculation that the US and other countries could tap into their strategic oil reserves. According to experts, this would provide some relief on the energy market, at least in the short term.

In the further course of the day, however, the negative factors again determined the stock market events with the high inflation and the ongoing war in the Ukraine. The announcement by Russian President Vladimir Putin in the afternoon that foreign buyers of Russian gas will have to pay in rubles from Friday caused additional uncertainty.