German shares lose 0.41 pct at start of trading on Wednesday

0 Comment(s)Print E-mail Xinhua, May 20, 2020
Adjust font size:

BERLIN, May 20 (Xinhua) -- German stocks were off to a shaky start on Wednesday, with the benchmark DAX index losing 45.96 points, or 0.41 percent, opening at 11,029.33 points.

The biggest winner among Germany's 30 largest listed companies at the start of trading was healthcare company Fresenius, increasing by 0.91 percent, followed by plastics specialist Covestro with 0.58 percent and dialysis specialist Fresenius Medical Care (FMC) with 0.55 percent.

On Wednesday, U.S. investment bank Morgan Stanley upgraded Fresenius from "equal-weight" to "overweight" but lowered the price target for the German healthcare company to 48 euros. Shares of Fresenius were trading at around 42.5 euros per share shortly after the start of trading.

Shares of Deutsche Telekom, fell by 1.72 percent. Germany's largest telecommunications company was the biggest loser at the start of trading on Wednesday.

On Wednesday, Germany's Chancellor Angela Merkel is scheduled to discuss the consequences of the coronavirus pandemic with five international economic and financial organizations such as the Word Trade Organization (WTO) and the International Monetary Fund (IMF).

On Wednesday, both Germany's largest bank Deutsche Bank and software company SAP are scheduled to hold their annual general meetings. Shareholders of Deutsche Bank are expected to elect Germany's former vice-Chancellor and foreign minister Sigmar Gabriel (SPD) as a new board member.

The yield on German ten-year bonds went up 0.001 percentage points to minus 0.460 percent, and the euro was trading almost unchanged at 1.0923 U.S. dollars, increasing slightly by 0.01 percent on Wednesday morning. Enditem

Follow on Twitter and Facebook to join the conversation.
ChinaNews App Download
Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from