Dusseldorf The end of the past week was forgiving, but the risks for the German stock market remain high. The analysts at Commerzbank see potential for short-term recovery if Russia turns on the gas tap of the Nord Stream 1 pipeline again in the next few days. “But in the medium term there is a risk of further price losses, as shares will gradually price in a recession,” write the experts in their weekly outlook.

The leading German index, the Dax, rose by 2.8 percent on Friday. That was the biggest daily gain since the end of March, reducing the weekly minus to 1.2 percent. The Dax closed at 12,815 points and reached its correction low from early March. Overall, nothing has changed in the last four months.