BUSINESS German shares up at start of trading on Thursday

BUSINESS

German shares up at start of trading on Thursday

Xinhua

20:26, December 12, 2019

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File photo: CGTN

BERLIN, Dec. 12 (Xinhua) -- German stocks continued their horizontal trend at the start of trading on Thursday, with the benchmark DAX index increasing by 20.82 points, or 0.16 percent, opening at 13,167.56 points.

The biggest winner among Germany's 30 largest listed companies at the start of trading was the German chip manufacturer Infineon, increasing 0.62 percent, followed by sportswear manufacturer Adidas with 0.52 percent and Germany's biggest airline Lufthansa with 0.45 percent.

On Thursday, Lufthansa is scheduled to present its monthly flight and passenger figures. In November, Lufthansa had to deal with strikes by its flight attendants, which resulted in 1,500 Lufthansa flights being cancelled worldwide.

Shares of MTU Aero fell by 0.76. The German aircraft engine manufacturer was the biggest loser at the start of trading on Thursday.

Consumer prices in Germany in November increased by 1.1 percent year-on-year, resulting in an inflation rate of 1.1 percent, the German Federal Statistical Office (Destatis) announced on Thursday.

The price development of mineral oil products had a "downward effect" on the inflation rate, Destatis noted. Prices for both heating oil and motor fuels fell significantly by 21.9 percent and 10.3 percent respectively.

The euro was trading almost unchanged at 1.1136 U.S. dollars, increasing slightly by 0.01 percent on Thursday morning.

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