Daily Report 06.09.2022
Objavljeno: 06. 09. 2022

European markets close lower as Russia halts gas flows; autos stocks fall nearly 5% 
The pan-European Stoxx 600 provisionally ended down 0.6%, having recouped some of its earlier losses. Autos plunged 4.8% to lead losses as most sectors and major bourses slid deep into negative territory. Oil and gas stocks bucked the downward trend to add 2% as prices spiked once more. 
The sharp downward moves for risk assets came after Russia’s state-owned energy giant Gazprom announced that gas flows to Europe via the Nord Stream 1 pipeline would be halted indefinitely, citing additional repair requirements. The euro fell sharply while European gas prices soared. 
Shares of German utility and major gas importer Uniper were still down more than 11% as gas prices soared on the back of Russia’s halting of flows to Europe. 
Source: CNBC, Investing.com