Rising energy prices are creating uncertainty on the stock exchanges

Frankfurt The courses on the capital markets reflect the freezing in horror at the war in Ukraine. According to strategists, international economic activity is becoming increasingly difficult to assess. Investors are therefore preparing for more weeks of uncertainty, also with a view to further increases in energy prices and interest rates.

Concerns about the development and consequences of Russia’s attack on Ukraine are growing, summarizes Robert Greil, chief investment strategist at Bank Merck Finck. “Putin’s ruble demand to pay for gas supplies further increases the uncertainty on the commodity side,” he says.

In his view, it is becoming increasingly clear that there is little likelihood of a significant short-term relaxation, particularly in terms of energy prices. Russian President Vladimir Putin ordered last week that gas should only be delivered in exchange for the Russian ruble.