At the start on Wednesday, the DAX lost 0.49 percent to 13,836.93 points. In the daily low it went down to 13,707.86 points. After further fluctuations, market participants started buying again and ultimately sent the stock market barometer up 0.69 percent to 14,000.11 points.
According to the Kremlin, Russia is ready to continue negotiations with Ukraine on Wednesday. “This afternoon, late afternoon, our delegation will be there and will wait for the Ukrainian negotiators,” spokesman Dmitry Peskov said in Moscow, according to the Interfax agency.
The day before, the leading German index had plummeted again in view of Russia’s massive attacks on Ukraine. The stock market barometer had dropped almost four percent and had thus fallen below 14,000 points again at times. The recovery from the first severe setback below the psychologically important mark immediately after last week’s invasion was thus nipped in the bud.
Analysts: DAX badly hit
Analysts rate the DAX as badly hit. “The leading German index tends to continue to fall,” wrote Martin Utschneider from Bankhaus Donner & Reuschel. No support is to be expected from the economy either, since the inflation data from the eurozone that are on the agenda are unlikely to bring any relief. Inflation is likely to increase further.
“Fear of the effects of economic sanctions and fear of the consequences of ever-increasing energy prices are reigning on the stock market,” wrote Thomas Altmann of asset manager QC Partners.
And the technical analyst Christoph Geyer sees the DAX in “crisis mode, which reflects the current situation”. According to the expert, however, the recent increase in turnover does not yet point to a sell-off mood.
Heavy Russian attacks on Ukraine
Meanwhile, Russia continues to aggressively target Ukraine. Attacks by Russian troops and fighting were reported from several Ukrainian cities on Wednesday night. US President Joe Biden announced the closure of American airspace to Russian aircraft. He vowed to take a hard line against Russia’s aggression and President Vladimir Putin.
Inflation: Bond prices and oil prices rise sharply
The flight of investors from shares had recently led to sharply rising prices on the bond markets. The price of oil also continues to soar, which could push inflation further up. This could have even greater consequences and exacerbate the already tense situation of companies worldwide due to supply chain problems.
Editorial office finanzen.net / dpa-AFX
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