© Archyde.com. Data from the German DAX index at the Frankfurt Stock Exchange on Monday. Archyde.com photo.
(Archyde.com) – The German stock index fell more than 2% to lead declines among European stock indexes on Monday after Russia stopped pumping gas through the Nord Stream 1 pipeline to Europe, raising concerns about rising energy prices and a lack of winter supplies in the region. .
The European index closed down 0.6 percent, while the DAX ended the trading session at a loss of 2.2 percent, recording the largest one-day decline in percentage terms in more than a week.
Russian gas giant Gazprom announced late Friday that the main (TADAWUL:) pipeline to Europe will remain closed indefinitely, against expectations that flows will resume on Saturday after three days of maintenance.
Shares of Uniper, the largest importer of Russian gas in Germany, fell 11 percent, while shares of its Finnish parent company Fortum fell 8.9 percent. And German utility (BNE) shares fell 4.1 percent.
And shares of European automakers fell 4.8 percent after Morgan Stanley (NYSE:) cut its rating for the sector.
Energy stocks were among the few gainers in Europe, with its index rising 2.2 percent amid a rise.
(Prepared by Wagdy Al-Alfi for the Arabic Bulletin)