BUSINESS German shares with slight gains at the start of trading on Friday

BUSINESS

German shares with slight gains at the start of trading on Friday

Xinhua

17:28, December 06, 2019

BERLIN, Dec. 5 (Xinhua) -- German stocks increased slightly at the start of trading on Friday, with the benchmark DAX index gaining 32.71 points, or 0.25 percent, opening at 13,087.51 points.

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File photo: VCG

The biggest winner among Germany's 30 largest listed companies at the start of trading was the country's largest airline Lufthansa which increased 1.81 percent, followed by chipmaker and semiconductor manufacturer Infineon with an increase of 1.21 percent and Deutsche Bank with an increase of 0.78 percent.

Shares of FMC fell by 1.23 percent after negative analyst ratings. The German dialysis specialist Fresenius Medical Care was the biggest loser at the start of trading on Friday, followed by its mother company Fresenius which saw shares fall 0.52 percent.

On Friday, three German premium car brands Audi, BMW and Daimler are scheduled to publish their sales figures. Although premium cars do not account for a large share of global sales, they typically offer the highest returns.

In October, production in the German industry went down by 1.7 percent from the previous month and even 5.3 percent from the same month last year, the Federal Statistical Office (Destatis) announced on Friday.

EU competition authorities in Brussels have approved financial rescue of the German bank Norddeutsche Landesbank which had lost billions with bad ship credits. The planned financial aid of around 3.6 billion euros (4 billion U.S. dollars) was compatible with EU law, the EU Commission announced on Thursday.

The euro was trading almost unchanged at 1.1107 dollars, up slightly by 0.01 percent on Friday morning.

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