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Frankfurt Stock Exchange:
The fall in the Dax continues
Photo: DANIEL ROLAND / AFP
The fall in prices on the stock exchanges continues: At the start of the week, the
Dax
will start again with significant discounts.
On Friday, the Dax had already fallen to its lowest level since December 2020 and was 4.4 percent lower at 13,094 points.
On Monday, the leading German index should fall another 300 points to 13,720 points.
In mid-February, the Dax was still above the 15,000 mark and has since fallen three thousand marks.
With a loss of more than 20 percent since the beginning of the year, the Dax is in bear market mode.
The losses since Friday alone are around 8 percent in the Dax.
The Ukraine war remains the main topic of conversation on the trading floor.
At the same time, rising commodity prices are stoking fears of inflation.
The discussion about stopping Russian energy supplies drove the price of Brent oil from the North Sea by almost 20 percent to a 13-1/2-year high of $139.13 a barrel.
Since Russia invaded Ukraine, losses in the Dax have now totaled around 10 percent.
Since the beginning of the year - on January 4, the Dax was still around 3000 points higher at 16,150 points - the Dax has lost more than 20 percent in value.
From a technical point of view, according to the Helaba experts, there is “hardly any hope left” for the leading German index.
There are also a number of factors that are currently weighing on the Dax, regardless of the war in Ukraine.
Some raw materials are more expensive than ever before
The palladium used for autocatalysts, the main exporter of which is Russia, was more expensive than ever at $3,173 per troy ounce.
Economic data only play a subordinate role.
Among other things, incoming orders from German industry are on the schedule.
Experts expect an increase of one percent for January.
In the previous month they had increased by 2.8 percent.
Experts are forecasting growth of 1.8 percent in German retail sales, after a minus of 5.5 percent in the previous month.
Price drop also in Asia - Nikkei at its lowest level in 30 months
The Asian stock exchanges recorded significant price losses on Monday.
The oil price surge caused uncertainty on the markets.
A possible freeze on imports of crude oil from Russia pushed oil prices to their highest level since 2008 at the start of the week.
The Tokyo stock exchange closed Monday at its lowest level in more than a year amid concerns about the consequences of a potential oil import freeze from Russia.
The Nikkei, which comprises 225 leading stocks, ended the market down 2.94 percent at 25,221.41 points.
This is the lowest closing price since November 10, 2020. The market was concerned about a severe shortage of energy supplies and a rapid increase in energy prices.
After the slump on the stock exchange in Tokyo due to concerns about a possible freeze on imports of oil from Russia, the stock market in Hong Kong also plummeted.
The Hang Seng Index in the Chinese special administrative region of Hong Kong recently lost 3.5 percent to 21,133 points.
The stock exchanges in China, which usually develop somewhat independently of world events, were also under considerable pressure.
The CSI 300 index of the 300 most important companies in mainland China fell 3.4 percent to 4342 points.
Japan, which is poor in raw materials and the third largest economy in the world ahead of Germany, is dependent on oil imports.
US Secretary of State Antony Blinken had brought new punitive measures against Moscow into play: Washington is advising European allies on a possible ban on imports of oil from Russia.
"We are now speaking with our European partners and allies to examine, in a coordinated manner, the prospect of a ban on Russian oil imports," Blinken said on Sunday
Panic buying drives oil prices to just under $140
A possible ban on Russian energy imports triggers
panic buying of oil and natural gas on Monday.
The price of Brent oil from the North Sea rose almost 20 percent to a 13-1/2-year high of $139.13 a barrel.
"If the West blocks most of Russia's energy exports, it would be a big shock to markets," warns Ethan Harris, chief economist at Bank of America.
Bitcoin keeps falling
After the recent price rally, cryptocurrencies are slightly down again: Bitcoin falls to $37,800 on the Bitstamp trading platform.
Since the beginning of the war, however, cryptocurrencies have gained almost 20 percent, as cryptocurrency is considered a safe haven for Russian billionaires.
Stockbrokers blamed increased interest on the part of Russian investors.
With news agencies