Shares – Dax in the red again – economy

After the recent recovery, the Dax took a hit on Monday. Concerns about China and the threat of a permanent stop to Russian gas deliveries initially caused the leading German index to drop by almost two percent. Until the close of trading, it was insulated dax the losses and was 1.4 percent lower at 12,832 points. “As if the impending energy crisis wasn’t bad enough, the corona virus has reported back in China,” said analyst Christian Henke from brokerage house IG. “This is now fueling renewed fears of lockdowns and disruption to the economy.” The Chinese authorities have imposed new restrictions on several cities and ordered mass tests for Shanghai. In the spring, a lockdown in the economic metropolis had a global impact on the economy.

Shares in the economically sensitive large gas consumers from the chemical, industrial, automotive and steel sectors were among the biggest losers. In the Dax, Daimler Truck, Covestro, BASF, Siemens and Mercedes Benz occupied the lower places with price reductions of up to five percent. At Siemens, a downgrade by the US analyst firm Bernstein Research also had a negative impact. Thyssenkrupp shares fell five percent in the M-Dax and Salzgitter shares fell four percent in the S-Dax small-cap index. Outside the important indices, Elringklinger lost 4.4 percent in value after the automotive supplier reported a write-down of more than 86 million euros in preliminary quarterly figures.

The weakest M-Dax value after the most recent stabilization was Uniper with a minus of more than 14 percent. After the struggling gas supplier’s application for government support, it is still unclear what exactly this will look like. Federal Minister of Economics Robert Habeck also wants to make the owners responsible for the rescue of the company. Uniper’s main shareholder is the Finnish energy supplier Fortum, which holds around 80 percent of the share capital and which in turn owns just over 50 percent of the Finnish state. He opposes further help for the daughter.

It was on Wall Street Dow Jones half a percent in the red shortly before the end of trading.

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