German shares lose over 1 pct as trading starts

0 Comment(s)Print E-mail Xinhua, October 6, 2021
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BERLIN, Oct. 6 (Xinhua) -- German shares went off with a bad start on Wednesday, with the benchmark DAX index losing 154.39 points, or 1.02 percent, and opening at 15,040.1 points.

The biggest winner among Germany's 40 largest listed companies was pharmaceutical giant Bayer, increasing 0.19 percent, followed by automotive supplier Continental with minus 0.04 percent and housing company Deutsche Wohnen down 0.08 percent.

On Wednesday, Swiss bank UBS lowered its price target for Continental from 144 euros to 136 euros but left the rating at "Buy." Shares of the German automotive supplier were trading at around 90 euros at early trading.

Shares of Deutsche Telekom fell by 3.83 percent. The German telecommunications giant was the biggest loser at the start of trading on Wednesday after the company's second biggest stakeholder sold almost half of its shares of Deutsche Telekom worth 1.5 billion euros (1.73 billion U.S. dollars).

The yield on German 10-year bonds increased 0.0330 percentage points to minus 0.1560 percent and the euro was trading almost unchanged at 1.1597 U.S. dollars, decreasing by 0.01 percent on Wednesday morning. Enditem

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