stock exchange
Dax starts with losses after tightening sanctions
The Dax curve of the Frankfurt Stock Exchange shows falling prices. Photo: Arne Dedert/dpa
© dpa-infocom GmbH
The tightened sanctions against Russia are weighing on prices on the German stock market on Monday morning. The Dax fell in the first few minutes of trading by 1.96 percent to 14,280.99 points.
The tightened sanctions against Russia are weighing on prices on the German stock market on Monday morning. The Dax fell in the first few minutes of trading by 1.96 percent to 14,280.99 points.
On Monday night, the European Union (EU) implemented its severe sanctions against the Central Bank of Russia, including a ban on transactions with the financial institution. In addition, all assets of the bank in the EU will be frozen. Russian financial institutions will also be excluded from the Swift banking communications network.
The federal government also made a U-turn and wants to participate in arms deliveries to Ukraine. The Bundeswehr is to be better equipped and receive 100 billion euros as a special fund for investments and armaments projects. The German armaments group Rheinmetall benefited from this on Monday morning with a premium of more than 40 percent. This supported the MDax of medium-sized stocks, which fell comparatively moderately by 0.28 percent to 31,709.99 points.
The stock markets across Europe also went down again. The Eurozone leading index EuroStoxx 50 recently fell by 2.17 percent to 3884.41 points.