German DAX reclaims 13,000-point mark on Monday

0 Comment(s)Print E-mail Xinhua, November 5, 2019
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BERLIN, Nov. 4 (Xinhua) -- German stocks were off to a good start on Monday, with the benchmark DAX index rising by 61.9 points, or 0.48 percent, opening at 13,022.95 points and reclaiming the 13,000-point mark that was last reached in mid-2018.

The biggest winner among Germany's largest 30 companies at the start of trading was financial service provider Wirecard, increasing 2.54 percent, followed by luxury car maker BMW with 1.55 percent and its competitor Daimler with 1.44 percent.

In an interview with German newspaper Handelsblatt published on Monday, Markus Braun, chief executive officer (CEO) of Wirecard, opposed the allegations of British newspaper Financial Times (FT) of "fraudulently" inflating sales and profits at Wirecard businesses in Dubai and Ireland.

The FT report was "factually incorrect," said Wirecard CEO Braun. After the report was published in mid-October, shares of the German financial service provider plummeted by more than 20 percent and have not recovered since.

Shortly after trading commenced, shares of Continental increased by over 3 percent and stood at the top of the DAX.

Shares of RWE fell by more than 2 percent at start of trading. The German utility was the biggest loser at the start of trading on Monday.

The euro increased by 0.06 percent on Monday morning local time, trading at 1.1172 U.S. dollars. Enditem

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