German shares unchanged at start of trading on Monday

0 Comment(s)Print E-mail Xinhua, June 29, 2020
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BERLIN, June 29 (Xinhua) -- German stocks were virtually unchanged at the start of trading on Monday, with the benchmark DAX index growing by 1.02 points, or 0.01 percent, opening at 12,090.41 points.

The biggest winner among Germany's largest 30 companies at the start of trading was financial service provider Wirecard, increasing by 32.69 percent. Last week, shares of Wirecard had collapsed by around 80 percent as the company announced it would file for insolvency over an accounting scandal.

Plastics specialist Covestro came in second, growing by 0.96 percent, followed by housing company Vonovia with 0.44 percent.

Shares of RWE fell by 2.60 percent. The German utility company was the biggest loser at the start of trading on Monday.

On Monday, the Federal Statistical Office (Destatis) is scheduled to announce preliminary estimates of the inflation rate for June. In May, the inflation rate in Germany had declined for the third consecutive month and stood at 0.6 percent.

The yield on German ten-year bonds went down 0.007 percentage point to minus 0.472 percent, and the euro was trading almost unchanged at 1.1219 U.S. dollars, declining by 0.04 percent on Monday morning. Enditem

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