Rapidly rising energy prices and the resulting inflationary fears caused European stock markets to collapse in midweek. Of Dax fell below 15,000 on Wednesday and lost 2.5% to 14,819 points. At the end of the trading session, the Dax was still in the red by 1.5% at 14,973 points. Investors feared that high energy prices would force central banks to raise rates faster to respond to rising inflation. “There is really no shortage of stressors at the moment,” said Christian Henke, analyst at the IG brokerage firm. “Even a possible US government default hangs like a sword of Damocles over the financial markets.”
On the German stock market, Bayer shares were able to escape the general downward trend. Shares of the agrochemicals group sometimes gained 2.5 percent. In the year-long dispute over glyphosate, a supposedly carcinogenic weedkiller, Bayer won a legal victory in the United States for the first time. Deutsche Telekom newspapers, on the other hand, came under the greatest pressure, with a price loss of more than five percent, pushing the Dax down. The sale of a billion dollar block of shares in US investment bank Goldman Sachs has put stocks under pressure.
A negative report from British investor Fraser Perring’s Viceroy research house broke the Adler Group in the biggest price cut in the company’s history. Stocks fell 26% to an all-time high. Perring was an early critic of the Wirecard payment processor, which collapsed in a balance sheet fraud scandal. A pessimistic outlook caused the Teamviewer share to fall. Stocks in the software company have slumped 25 percent and have been quoted lower than ever before. Grenke shares continued their sharp decline at minus 8.7%. The day before, the IT rental company had downgraded its forecasts for new business after a decline in the third quarter. Some analysts have responded to this with negative comments and gradations.
He recovered on Wall Street Dow jones initial losses and closed up 0.3% to 34,417 points.