©Reuters. DAX 40 falls 2.91% after panic selling on recession fears
Frankfurt (Germany), Jul 5 (.).- The Frankfurt selective closed this Tuesday with a fall of 2.91%, until falling to the lowest since November 2020, after panic sales due to fears of a recession in Germany before an energy crisis if Russia cuts off gas supplies.
The 40 index lost 2.91% today, to 12,401.20 points, while the technological one fell 1.17%, to 2,847.65 points.
The German Economy and Climate Minister, the green Robert Habeck, warned that the gas energy crisis could have a domino effect on the market and did not rule out an intervention in gas prices.
The gas company Uniper (ETR:) is negotiating a bailout with the German government after Russia once again reduced gas supplies to Germany through the Nordstream pipeline.
Eurozone economic growth slows to a sixteen-month low in June, according to S&P Global (formerly IHS Markit).
Companies that are more sensitive to the situation and semiconductor manufacturers fell on the Frankfurt Stock Exchange.
The manufacturer of aircraft engines MTU Aero Engines (ETR:) left 7.8%, up to 160.10 euros, and Daimler (ETR:) Truck fell 7.7% to €22.84.
The reinsurer Hannover Rück lost 7.7%, to 131.80 euros, and its competitor Münchener Rück lost 6.4%, to 216.10 euros.
Laboratory equipment supplier Sartorius (ETR:) rose 2.3% to €353.80, and drugmaker Merck gained 1.5% to €167.87.
In the midsize companies index, Uniper plunged 9.4% to 10.25 euros, losing half its value in a month.
At TecDAX the chip manufacturer Aixtron (ETR:) lost 5.5% to €21.18, and Siltronic fell 3.9% to €64.65.