Much was lost within a week that was taken for granted in Germany.

Above all, peace in Europe.

With the Russian invasion of Ukraine, insecurity has found its way into everyday life.

At all levels, long-cherished goals and firm resolutions are thrown overboard, if not directly, but at least questioned.

Gregory Bruner

Editor in Business.

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On the stock exchanges, this is reflected in a sharp rise in volatility.

The V-Dax, which is intended to measure the nervousness of German investors, is currently around 42 points, the highest it was in October 2020. One of the biggest topics this week was certainly Germany's energy security.

People no longer want to rely on gas supplies from Russia, which is why the earlier phase-out of coal in 2030 is now being debated on the one hand, and on the other hand even the continued operation of nuclear power plants in Germany that are still active.

At the same time, the majority of electricity in Germany should come from renewable energies by 2035.

This mixture affects energy values ​​differently.

Shares in the utility Uniper, which was involved in financing the Russian-German gas pipeline Nord Stream 2, lost 39 percent on a weekly basis.

The wind turbine manufacturer Nordex was able to win, whose shares rose by around 8 percent.

Elsewhere, investors are happy about reversals.

Arms deliveries from Germany to Ukraine were still taboo for a long time.

The government broke this with a corresponding announcement.

The shares of German armaments companies are among the winners this week.

Both Rheinmetall and Hensoldt gained a good 41 and 38 percent on the stock exchange.

Bank stocks also took a hit.

The exclusion of Russian banks from international payment transactions did not only affect their papers.

Deutsche Bank and Commerzbank are among the losers with minus 21 and 24 percent respectively.

Under normal circumstances, her star would be good: Fed Chairman Jerome Powell had announced that he would stay on course with a key interest rate hike in the United States in mid-March.

During these uncertainties, changes to the Dax indices were announced on Thursday evening.

From March 21, shares in Daimler Truck and Hannover Re will be among the 40 stocks in the leading index.

They replace Siemens Energy and Beiersdorf, which are relegated to the M-Dax.

RTL, Sixt and Siltronic are also new to the mean index.

Compugroup, Hella and Auto1 have to leave the index.