European stocks sharply lower amid energy shortage concerns

Germany’s DAX 30 struggles most, falling 2.81% from previous close

By Tuba Sahin

ANKARA (AA) - European stock exchanges were sharply lower at the opening bell on Monday amid concerns over possible energy shortages.

Russian energy giant Gazprom said on Friday that its key Nord Stream pipeline, which supplies gas to Europe, would remain shut for an indefinite period due to an oil leak.

The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, fell 0.42% or 1.74 points to 414.24.

The UK’s FTSE 100 index decreased 0.89% or 64.8 points to 7,216.

Germany’s DAX 30 struggled the most, down 2.81% or 367.4 points to 12,682 points.

France’s CAC 40 dove 1.93% or 199.3 points to start the week at 6,048 points.

Italy’s FTSE MIB plummeted 2.31% or 506.3 points to 21,415, while Spain’s IBEX 35 posted a 1.67% drop to 7,799.

Kaynak: