BERLIN, Jan. 23 (Xinhua) -- German stocks were unable to maintain Wednesday's all-time high and were off to a shaky start on Thursday, with the benchmark DAX index losing by 59.85 points, or 0.44 percent, opening at 13,455.90 points.

The biggest winner among Germany's 30 largest listed companies at the start of trading was the country's largest airline Lufthansa, increasing 2.76 percent, followed by chip manufacturer Infineon with 0.21 percent and stock exchange operator Deutsche Boerse with 0.13 percent.

Investors reacted positively to media reports on Wednesday that Lufthansa was planning an initial public offering (IPO) of its Technik division, specialized on the maintenance of jet engines and aircraft. The German airline has so far declined to comment on the reports.

According to Bloomberg analyst George Ferguson, Lufthansa Technik was worth around 7.5 billion euros (8.3 billion U.S. dollars), more than Lufthansa's total market capitalization of around 6.9 billion euros.

Shares of Continental fell by 1.10 percent. The German automotive supplier was the biggest loser at the start of trading on Thursday.

The euro was trading virtually unchanged at 1.1085 dollars, decreasing slightly by 0.07 percent on Thursday morning. Enditem

Related

Go to Forum >>0 Comment(s)