BERLIN, Nov. 28 (Xinhua) -- German stocks were off to a shaky start on Thursday, with the benchmark DAX index losing 39.46 points, or 0.30 percent, opening at 13,247.61 points.
The biggest winner and the only company among Germany's largest 30 companies increasing at the start of trading was German housing company Vonovia, gaining 0.04 percent. German utility company RWE followed second but started trading on Thursday with no changes.
Shares of Henkel fell by 0.66 percent. The German consumer goods company was the biggest loser at the start of trading on Thursday followed by chip manufacturer Infineon losing 0.57 percent and German software company SAP decreasing by 0.55 percent.
On Thursday, U.S investment bank Jefferies left the rating for Henkel at "hold" but raised the price target from 86.50 euros to 95 euros. Shares of the German consumer goods company were trading at slightly above 96 euros on early Thursday trading.
Jefferies analyst Martin Deboo stated that the price target for Henkel was raised because the probability of positive changes at the German consumer goods group under the new CEO had increased. Deboo stressed that although shares of Henkel were not highly valued and the downturn in the adhesives business could end soon, the consumer business in general would face challenges.
Germany's renewably energy utility Innogy announced its third quarter (Q3) results on Thursday and reported adjusted net income decrease by 53.7 percent to 212 million euros (234 million U.S. dollars).
On Thursday, the Federal Statistical Office (Destatis) is scheduled to publish a first estimate of inflation in Germany in November. In October, the inflation level in Germany was at 1.1 percent.
The euro was almost unchanged, decreasing slightly by 0.02 percent on Thursday morning, trading at 1.1005 U.S. dollars.
