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Photo: Arne Dedert / picture alliance / dpa
Russia's war against Ukraine is increasingly making itself felt on European stock markets.
The leading German index, the Dax, which reached a record high of around 16,290 points last November, has meanwhile plummeted towards 13,000 points.
On Friday it closed at minus 4.41 percent.
Over the course of the week, it lost ten percent and has now returned to the point level at the end of 2020.
The MDax fell by 4.86 percent on Friday to 28,859 points, which means that the index for medium-sized stocks is also back at its lowest level since the end of 2020. The downward pressure also continued vehemently on the European stage and losses were also recorded in the USA.
And in the new week it could go further down.
"The wave of sales is in full swing," said portfolio manager Thomas Altmann from QC Partners.
The V-Dax as an indicator of investor uncertainty, which had risen to its highest level since October 2020 on the day of the Russian invasion, continued to rise.
Important interest rate meeting of the ECB
In view of the developments in the war, economic data due next week, the interest rate meeting of the European Central Bank (ECB) or company reports are likely to receive only marginal attention.
Negotiations and sanctions are currently being used to persuade Russian President Vladimir Putin to give in.
However, the punitive measures against Russia are also having a severe impact on the West itself, which in some cases is heavily dependent on Russian gas supplies.
"The severe sanctions will also lead to growth losses in Germany, especially since energy prices continue to rise significantly and deprive consumers of purchasing power and increase costs for companies," writes equity strategist Markus Reinwand from Helaba.
Robert Greil, chief strategist at Merck Finck, expects the ECB, which will decide on the key interest rate on Thursday, to be “rather wait-and-see” given the uncertainty.
hey/dpa
