German shares gain 0.28 pct at start of trading Friday

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BERLIN, Oct. 4 (Xinhua) -- Following negative domestic economic signals, German stocks gained 0.28 percent at the start of trading on Friday, with the benchmark DAX index up 33.06 points, opening at 11,958.31 points.

The biggest winner among Germany's largest 30 companies at the start of trading was technology giant Siemens, increasing 0.85 percent, followed by payment provider Wirecard with 0.32 percent and chip manufacturer Infineon with 0.25 percent.

On Wednesday, Siemens announced plans to build a gas power plant in Tatarstan, Russia, worth 290 million euros (about 318.5 million U.S. dollars). The plant is set to go into operation in 2023.

Shares of software firm SAP fell by 1.05 percent and were the biggest loser at the start of trading. However, the company quickly climbed to top of the DAX gaining roughly one percent shortly after trading commenced.

Shares of airplane manufacturer Airbus were at the top Germany's top-60 index MDAX with an increase of 4.6 percent at the start of trading. Market participants were relieved that U.S. tariffs on European airplanes were not as high as initially feared.

On Friday, the German Mechanical Engineering Industry Association announced that orders in August were down 17 percent compared to last year. Domestic orders of Germany's engineering industry fell 12 percent while foreign orders decreased by 19 percent. Enditem

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