The leading German index had reached several new record highs in the last stock market year.
(Foto: Bloomberg Creative/Getty Images [M])
Düsseldorf The German stock market closed in the red on Thursday. The trigger was the worsening situation in Ukraine, which caused losses of between 1.4 and 1.6 percent for the major indices on the US stock market. The leading German index Dax held up a little better and closed 0.7 percent lighter at 15,268 points.
Limited fighting between separatists and the Ukrainian army was reported from eastern Ukraine on Thursday. “The risk of a Russian invasion of Ukraine has not been averted from the market participants’ point of view, despite Russia’s assurances to the contrary,” warned Commerzbank analyst Carsten Fritsch.
Given the uncertainty, safe haven assets were in demand. The price of gold meanwhile swung 1.6 percent to an eight-and-a-half-month high of $1,899.01 an ounce (31.1 grams). Government bond prices also rose, while yields on ten-year US Treasuries and their German counterparts fell to 1.932 and 0.229 percent, respectively.
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