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Global stocks lower, euro dips on Russian gas supply woes

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Euro drops below 99c for first time in 20 years and European gas prices jump as much as 30%

05 September 2022 - 11:31The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany. File photo: REUTERS

Finland and Sweden announced plans to offer liquidity guarantees to power companies in their countries. “Sky-high energy prices, the risk of gas shortages and the fiscal and regulatory response will shape the outlook for Eurozone GDP and inflation much more than anything the ECB may do with rates,” said Berenberg chief economist Holger Schmieding in a client note.

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