German shares almost unchanged at start of trading on Monday

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BERLIN, Dec. 9 (Xinhua) -- German stocks were almost unchanged at the start of trading on Monday, with the benchmark DAX index losing 19.01 points, or 0.14 percent, opening at 13,147.57 points.

The biggest winner among Germany's largest 30 companies at the start of trading was the German aircraft engine manufacturer MTU Aero, increasing 1.07 percent, followed by Deutsche Bank with 0.75 percent and car manufacturer Daimler with 0.37 percent.

Shares in Wirecard showed strong losses and decreased by 3.73 percent. The German financial service provider was the biggest loser at the start of trading on Monday.

Following the publication of a series of negative articles by British newspaper the Financial Times about illegal accounting practices at Wirecard throughout the year, a critical follow-article on the calculation of Wirecard's liquid assets in 2017 on Monday saw Wirecard shares fall again.

On Monday, the German Federal Statistical Office (Destatis) said that exports of German companies in October increased year-on-year by 1.9 percent to 119.5 billion euros (132.25 billion U.S. dollars) while imports decreased by 0.6 percent to 98.0 billion euros (108.43 billion dollars).

In the third quarter of 2019, labor costs in Germany increased by 3.1 percent year-on-year, said Destatis. At 2.7 percent, the increased labor costs for Germany's industry and support services sector had been slightly below the European average of 3.1 percent in the second quarter.

The euro was trading almost unchanged at 1.1059 U.S. dollars, increasing slightly by 0.04 percent on Monday morning. Enditem

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