German shares gain 0.41 pct at start of trading

Source: Xinhua| 2019-11-27 19:28:59|Editor: mingmei
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BERLIN, Nov. 27 (Xinhua) -- German stocks were off to a good start on Wednesday with the benchmark DAX index increasing by 54.67 points, or 0.41 percent, opening at 13,291.09 points.

The biggest winner among Germany's 30 largest listed companies at the start of trading was high-tech polymer producer Covestro, increasing 0.97 percent, followed by sportswear manufacturer Adidas with 0.84 percent and chip manufacturer Infineon with 0.83 percent.

All 30 companies listed in the DAX were trading at a plus on Wednesday. The smallest gain was recorded for Deutsche Telekom with 0.04 percent, following Germany's stock exchange operator Deutsche Boerse, which gained 0.07 percent.

Prices of German exports decreased by 0.2 percent, while prices of German imports evenly declined by 3.5 percent in October year-on-year, according to figures published by the Federal Statistical Office on Wednesday.

The decrease in price of goods imported to Germany was mainly caused by significant lower energy prices, which saw a steep decline of by 23.4 percent year-on-year. Prices of natural gas dropped 37.5 percent compared to those in October 2019.

On Wednesday, the German real estate company Aroundtown announced its third quarter results, reporting a 25 percent increase of its operating result compared to last year's figure, to a total of 371 million euros (456 million U.S. dollars).

Shortly after trading started on Wednesday, Aroundtown shares listed in Germany's MDAX grew by more than 4 percent, after the German real estate company increased its profit forecast by 10 million euros to 500 million euros for 2019.

The euro was almost unchanged, decreasing very slightly by 0.01 percent on Wednesday morning, trading at 1.1023 dollars.