The announcement that gas deliveries from Russia would continue to fall caused uncertainty on the stock exchanges in Europe at the start of the week.
Gazprom's statement that it would reduce the gas flow through the Nord Stream 1 pipeline to only around 20 percent in the middle of the week pushed prices down and caused the Dax to go 0.3 percent weaker at 13,210 points.
On the European stock exchange floor, too, the further turned off gas tap put a damper on the mood and price gains crumbled at times.
However, the leading euro zone index, the EuroStoxx 50, climbed back into positive territory shortly before the end of trading and closed with an increase of 0.21 percent to 3604.16 points.
In Paris and London, the leading stock exchanges also closed somewhat more firmly.
On Wall Street, the Dow Jones Industrial ended moderately higher in Europe.
A clear effect was also evident on Monday evening on the price of natural gas.
The futures contract TTF on the energy exchange in the Netherlands, which is regarded as trend-setting, was traded at up to 175 euros per megawatt hour.
That is an increase of 7.7 percent compared to Friday.
The energy expert Florian Starck from the price portal Check24 expects gas prices on the stock exchanges to continue to rise.
Because the demand for gas is relatively constant, and now a replacement must be found for the failure of Russian gas.
On the other hand, investors were less impressed by the renewed decline in the Ifo index, which reflects the mood in the German executive floors, which has deteriorated even more than initially expected.
"Germany is on the threshold of recession," said Ifo President Clemens Fuest, commenting on the report's findings.
"The fact that it didn't turn out to be even more drastic is thanks to the still relatively good situation in the service sector," said Thomas Gitzel, chief economist at VP Bank "Even though gas flows from Russia are currently limited, the sword of Damocles 'total gas freeze' hangs over the economic outlook."