Tue, 24 Nov 2020

German shares lose 0.97 pct at start of trading

24 Sep 2020, 21:05 GMT+10

BERLIN, Sept. 24 (Xinhua) -- German stocks were off to a shaky start on Thursday, with the benchmark DAX index losing 122.50 points, or 0.97 percent, opening at 12,520.47 points.

All of Germany's largest 30 companies recorded losses at the start of trading.

Housing company Vonovia decreased the least with minus 0.21 percent, followed by utility RWE with minus 0.22 percent and housing company Deutsche Wohnen with minus 0.31 percent, while shares of MTU Aero Engines fell by 2.63 percent. The German aircraft engine manufacturer was the biggest loser.

On Thursday, the Munich-based ifo Institute announced that the index for business climate in Germany increased from 92.6 points in August to 93.4 points in September. It was the fifth monthly increase in a row.

Prices of residential properties in Germany in the second quarter increased by 6.6 percent year-on-year, the Federal Statistical Office (Destatis) announced on Thursday.

The yield on German ten-year bonds went down 0.019 percentage points to minus 0.521 percent, and the euro was trading almost unchanged at 1.1662 U.S. dollars, decreasing by 0.01 percent on Thursday morning.

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