The rapid rise in energy prices and the associated fears of inflation caused Europe’s stock markets to collapse in the middle of the week. Of the Dax fell below the 15,000 mark on Wednesday and lost 2.5 percent to 14,819 points. At the end of the trading session, the Dax was still 1.5 percent in the red at 14,973 points. Investors feared that high energy prices could force central banks to hike rates faster to respond to rising inflation. “There is really no shortage of stress factors at the moment,” said Christian Henke, an analyst from the brokerage house IG. “Even the possible default by the US government hovers like a sword of Damocles over the financial markets.”
On the German stock market, Bayer stock was able to escape the general downward trend. The stocks of the agrochemical group gained 2.5 percent at times. In the year-long dispute over the allegedly carcinogenic weed killer glyphosate, Bayer achieved a legal victory in the USA for the first time. The papers of Deutsche Telekom, on the other hand, came under the greatest pressure, with a price loss of more than five percent, which pulled the Dax down. The sale of a multi-billion dollar stake in US investment bank Goldman Sachs put the stocks under pressure.
A negative report from the research house Viceroy of the British investor Fraser Perring broke Adler Group in the biggest price fall in the company’s history. The titles fell 26 percent to a record low. Perring was one of the first critics of the payment processor Wirecard, which collapsed in a balance sheet fraud scandal. A pessimistic outlook sent the Teamviewer share downhill. The titles of the software company collapsed by 25 percent and were quoted as low as never before. Grenke shares continued their steep decline with minus 8.7 percent. The day before, the IT leasing provider had lowered its forecast for new business after a slump in the third quarter. Some analysts reacted to this with negative comments and gradations.
He recovered on Wall Street Dow Jones from initial losses and closed 0.3 percent higher at 34,417 points.