German shares gain 0.43 pct at start of trading on Monday

Xinhua
10 Aug 2020, 19:44 GMT+10

BERLIN, Aug. 10 (Xinhua) -- German stocks were off to a good start on Monday, with the benchmark DAX index rising by 54.22 points, or 0.43 percent, opening at 12,729.10 points.

The biggest winner among Germany's largest 30 companies at the start of trading was Deutsche Bank, increasing by 2.91 percent, followed by automotive supplier Continental with 2.04 percent and aircraft engine manufacturer MTU Aero Engines with 1.86 percent.

Shares of Wirecard fell by 2.17 percent. The German financial service provider was the biggest loser at the start of trading Monday, followed by software company SAP with losses of 1.14 percent and chipmaker Infineon, decreasing by 1.13 percent.

Turnover in Germany's main construction industry in May was down 3 percent year-on-year while the number of employees in this sector increased slightly by 0.7 percent, the Federal Statistical Office (Destatis) announced on Monday.

Business insolvencies of German companies decreased by 9.9 percent in May year-on-year to just above 1,500. According to Destatis, economic problems caused by COVID-19 had not been reflected yet by an increase in insolvencies due to the suspension of the obligation to file for insolvency since March.

The yield on German ten-year bonds went down 0.005 percentage point to minus 0.512 percent, and the euro was trading almost unchanged at 1.1787 U.S. dollars, increasing by 0.04 percent on Monday morning.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Pakistan Telegraph.

More Information