German shares increase by 0.68 pct at start of trading on Thursday

0 Comment(s)Print E-mail Xinhua, February 6, 2020
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BERLIN, Feb. 6 (Xinhua) -- German stocks were off to a good start on Thursday, with the benchmark DAX index increasing by 92 points, or 0.68 percent, opening at 13,570.33 points.

The biggest winner among Germany's largest 30 companies at the start of trading was chip manufacturer Infineon, increasing 1.68 percent, followed by mail and logistics company Deutsche Post with 1.67 percent and Germany's largest bank Deutsche Bank with 1.65 percent.

Shares in Siemens fell by 2.80 percent. Following the announcement of its Q1 results on Wednesday, which saw a decrease in adjusted earnings of 30 percent, the German technology giant was the biggest loser at the start of trading on Thursday.

New orders for Germany's manufacturing sector in December declined by 2.1 percent compared to the previous month and 8.7 percent year-on-year, the German Federal Statistical Office (Destatis) said.

On Thursday, the German Mechanical Engineering Industry Association (VDMA) is scheduled to publish new order data for the entire year of 2019. In November, new orders had decreased by 15 percent year-on-year.

The euro was trading almost unchanged at 1.1001 U.S. dollars, decreasing slightly by 0.01 percent on Thursday morning. Enditem

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