German shares lose 0.46 pct at start of trading on Thursday

0 Comment(s)Print E-mail Xinhua, March 4, 2021
Adjust font size:

BERLIN, March 4 (Xinhua) -- German stocks were off to a shaky start on Thursday, with the benchmark DAX index losing 64.59 points, or 0.46 percent, opening at 14,015.44 points.

The biggest winner among Germany's 30 largest listed companies at the start of trading were utilities RWE and E.ON, increasing by 2.55 and by 1.04 percent respectively.

Housing company Vonovia came in third, growing by 0.78 percent, after the German company announced revenues up 6.3 percent year-on-year to 4.4 billion euros (5.28 billion U.S. dollars) in fiscal 2020.

Shares of Infineon fell by 3.20 percent. The German chipmaker was the biggest loser at the start of trading on Thursday.

Turnover of wholesale trade in Germany in 2020 was down 0.4 percent compared to the previous year, the country's Federal Statistical Office (Destatis) announced on Thursday. However, figures for the fourth quarter already increased by 2.9 percent year-on-year.

German pharmaceutical company Merck announced increasing sales by 8.6 percent to 17.5 billion euros in fiscal 2020 "despite the circumstances of the pandemic." For 2021, the company expects "strong organic sales growth."

Consumer goods company Henkel "delivered an overall robust performance across all business units" in 2020, the company announced on Thursday. Sales declined by 8.2 percent year-on-year and reached 8.7 billion euros.

Lufthansa recorded losses of 6.7 billion euros in 2020 as "demand fell dramatically in the year of the coronavirus pandemic and the associated travel restrictions," Germany's largest airline announced on Thursday. In the "most challenging year in the company's history," revenues plummeted to 13.6 billion euros from 36.4 billion euros in 2019.

The yield on German ten-year bonds went down 0.025 percentage points to minus 0.317 percent, and the euro was trading unchanged at 1.2063 U.S. dollars on Thursday 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