Frankfurt stocks closed: China and gas worries hail the start of the week | news
FRANKFURT (dpa-AFX) – After several trading days with profits in a row, the German stock market has made a weaker start to the new week. Concerns about possible new corona restrictions in China and the threat of a permanent gas ban from Russia caused a burden. The Dax (DAX 40) closed Monday down 1.40 percent at 12,832.44 points after rising by around one and a half percent in the previous week. The MDAX of medium-sized companies gained 2.30 percent on Monday to 25,695.53 points.
The risk of further corona restrictions in China is again heightening concerns about the global economic outlook, the market said. The number of new infections there is expected to have reached its highest level since the end of May.
In addition, for the time being no more Russian gas is fleeing through the Nord Stream 1 pipeline to Europe, since the planned maintenance work, which lasts about ten days, has started. There is concern that the flow will not be raised back to the old level. Russia had significantly reduced deliveries in mid-June and confirmed this with a missing turbine due to sanctions. After a decision by the Canadian government, this should now be delivered to Germany./edh/he