German shares lose 1.49pc at start of trading yesterday

BERLIN (XINHUA) – German stocks were off to a shaky start yesterday, with the benchmark DAX index decreasing by 201.69 points, or 1.49 per cent, opening at 13,371.99 points.

All of Germany’s 30 largest listed companies recorded losses yesterday. Shares of Lufthansa fell strongly by 5.13 per cent, making Germany’s largest airline the biggest loser at the start of trading yesterday.

Least hit was German utility RWE, down 0.06 per cent, followed by Germany’s largest telecommunications company Deutsche Telekom with minus 0.20 per cent and housing company Vonovia with minus 0.39 per cent.

Yesterday, the monthly business climate index of the Ifo Institute for Economic Research surprisingly dropped to 95.9 points. The German economy started off “timidly” into the new year, said Ifo President Clements Fuest.

The euro was trading almost unchanged at USD1.1027, increasing slightly by 0.02 per cent yesterday morning.