The leading index Dax slides back towards the low for the year.
(Photo: Bloomberg)
Frankfurt, Dusseldorf The reaction was delayed but clear. On Friday evening, the Russian state-owned company Gazprom announced that it would stop all gas deliveries to Germany until further notice. On Monday, the news belatedly shook the entire European market: On the stock market, the leading European index Euro Stoxx 50 lost up to 2.8 percent, the German leading index Dax lost up to 3.3 percent.
Towards the end of trading, both indices limited their losses, but Jochen Stanzl, chief market analyst at CMC Markets, says: “The Dax could soon be tested for the year’s lows if the worst scenarios on the energy market are confirmed.” The Dax fell to on Monday to 12,617 points, the low for the year is 12,391 points.
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