BERLIN, Sept. 25 (Xinhua) -- German stocks were under pressure at the start of trading on Wednesday, with the benchmark DAX index opening at 12,250.08 points, losing 57.07 points, or 0.46 percent.
The biggest winner among Germany's largest 30 companies at the start of trading was automotive supplier Continental, with an increase of 0.22 percent, followed by pharmaceutical company Merck with 0.19 percent and reinsurer Munich Re with 0.17 percent.
Shares of Wirecard fell by 1.66 percent. The German payment service provider was the biggest loser at the start of trading on Wednesday.
On Tuesday, U.S. investment bank Goldman Sachs added Wirecard as a "Conviction Buy" and set the price target at 230 euros (253 U.S. dollars), more than 50 percent above Wirecard's current value.
Swiss UBS, however, lowered its expectations for the German payment provider on Wednesday, downgrading Wirecard from "Buy" to "Neutral" and decreased the price target to 151 euros (166 dollars).
Shares of Wirecard are currently trading at around 145 euros (159 dollars).
On Wednesday, software provider TeamViewer is set to achieve the largest initial public offering (IPO) of the year in Europe so far.
At the issued price of 26.25 euros (28.85 dollars) per share, TeamViewer obtained a total of around 2.21 billion euros (2.43 billion dollars), the German company announced on Tuesday night.
Germany's largest market research institute GfK is scheduled to publish its monthly consumer climate index on Wednesday.
