German shares lose 1.14 pct at start of trading

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BERLIN, Aug. 20 (Xinhua) -- German stocks were off to a shaky start Thursday, with the benchmark DAX index losing 147.94 points, or 1.14 percent, opening at 12,829.39 points.

The least decreasing company among Germany's 30 largest listed companies was consumer goods company Beiersdorf, with shares falling by 0.13 percent, followed by housing companies Vonovia and Deutsche Wohnen, with shares falling 0.31 percent and 0.50 percent respectively.

Shares in Wirecard fell by 3.20 percent, making the German payment service provider the biggest loser at the start of trading Thursday.

On Wednesday, Deutsche Boerse in Frankfurt announced that Wirecard would leave the DAX index on Aug. 24 under a new insolvency rule and would be replaced by the international online ordering service Delivery Hero.

On Thursday, the Federal Statistical Office (Destatis) announced that retail turnover in Germany in nominal terms in the first half of 2020 increased by 1.5 percent compared with the second half of last year.

According to Destatis, producer prices of industrial products in Germany in July decreased by 1.7 percent year-on-year. The main reason for the decline was the development of energy prices, which were on average 5.8 percent lower than in July 2019.

The yield on German ten-year bonds went down 0.002 percentage points to minus 0.475 percent, while the euro was trading almost unchanged at 1.1842 U.S. dollars, decreasing by 0.03 percent Thursday morning. Enditem

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