German shares lose 0.15pc at start of trading

BERLIN (XINHUA) – German stocks recorded slight losses at start yesterday, with the benchmark DAX index falling by 19.79 points, or 0.15 per cent, opening at 13,041.83 points.

The biggest winner among Germany’s largest 30 companies at the start of trading was car manufacturer BMW, increasing by 0.60 per cent, followed by software company SAP with 0.46 per cent and energy company RWE with 0.30 per cent.Shares of Continental fell by 0.87 per cent. The German automotive supplier was the biggest loser at the start of trading yesterday, followed by sportswear manufacturer Adidas, with shares losing 0.86 per cent.

Yesterday, the Federal Statistical Office (Destatis) announced that prices of residential property in the second quarter were up 1.4 per cent within one quarter and even increased 5.6 per cent year-on-year.

Shares of Germany’s largest housing company Vonovia already reached pre-COVID-19 levels of around 54 euros in June and were trading at almost EUR60 yesterday.

The yield on German 10-year bonds went up 0.012 percentage points to minus 0.409 per cent, and the euro was trading at USD1.1805, falling by 0.26 per cent yesterday.