The Ukraine conflict will be a major burden on the stock market in the new week.
A feared Russian invasion of the neighboring country had already sent prices on the US stock markets plummeting on Friday. On Monday, the Dax will continue to go down significantly.
In the first hour after the Xetra opening, the leading German index slipped well below the round mark of 15,000 points. It was last 3.25 percent lower at 14,923 points. The MDax of medium-sized stocks lost 3.35 percent to 32,285 points. The leading barometer for the eurozone, the EuroStoxx 50, recorded a discount of 3.2 percent. Economic and company news move little at the start of the week. In any case, the reporting season is a little quieter this week.
Even if there is still hope on the stock exchange that instead of a Russian invasion of Ukraine there will be diplomatic progress in the middle of the week, many investors are forced to sell their stocks because of the increasing geopolitical risks, said analyst Jochen Stanzl from broker CMC Markets.
Deutsche Bank shares brought up the rear in the Dax with minus six percent. They paid tribute to their rally fueled by the prospect of rising interest rates. The titles of the German Stock Exchange were relatively unscathed at the top of the Dax with minus 0.7 percent. Exchange operators benefit from high fluctuations in the market and the associated higher trading activity.
When it came to Deutz shares, investors reacted angrily to the news that CEO Frank Hiller had been unanimously dismissed from the board by the supervisory board. The background to this are differences about how to deal with requirements for more women on executive boards. For the shares of the engine manufacturer, it went down in the SDax of the smaller values by almost eleven percent.
The seed group KWS Saat is becoming more optimistic about growth in the current fiscal year. A stockbroker said that the half-year figures that have now been presented are better than expected at first glance. However, that did not help the course in the very weak market either, the papers lost 2.3 percent. (dpa)