German Shares Gain 1.06% at Start of Trading on Monday
Image Credits: FX Empire
BERLIN, Oct 5 (XINHUA/APP): German stocks were off to a good start on Monday, with the benchmark DAX index rising 135.01 points, or 1.06 percent, opening at 12,824.05 points.
The biggest winner among Germany’s largest 30 companies at the start of trading was Deutsche Bank, increasing by 2.53 percent, followed by aircraft engine manufacturer MTU Aero Engines with 2.19 percent and automotive supplier Continental with 2.18 percent.
Shares of Delivery Hero fell by 0.06 percent. The German online food delivery company was the biggest loser at the start of trading on Monday. Turnover of department stores in Germany in August declined by 2.4 percent year-on-year, the Federal Statistical Office (Destatis) announced on Monday. From April to June, turnover in real terms even fell by about 25 percent compared to the second quarter of 2019.
On Monday, Theodor Weimer, CEO of stock exchange company Deutsche Boerse welcomed a possible expansion of the DAX to increase the number of listed companies from 30 to 40 while tightening conditions for a membership in Germany’s top index.
The yield on German ten-year bonds went down 0.006 percentage point to minus 0.543 percent, and the euro was trading almost unchanged at 1.1716 US dollars, increasing by 0.43 percent on Monday morning.
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