German shares lose 0.3 pct at start of trading on Tuesday

Source: Xinhua| 2019-12-10 18:41:02|Editor: xuxin
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BERLIN, Dec. 9 (Xinhua) -- German stocks were off to a shaky start on Tuesday, with the benchmark DAX index losing 39.78 points, or 0.30 percent, opening at 13,065.83 points.

The biggest winner among Germany's largest 30 companies at the start of trading was Deutsche Bank, increasing 1.18 percent, followed by German jet engine manufacturer MTU Aero with 0.08 percent and consumer good company Beiersdorf with 0.05 percent.

On Tuesday, Deutsche Bank is scheduled to hold an investor day at its headquarters in Frankfurt. Deutsche Bank CEO Christian Sewing will present the strategy of Germany's largest banking institute and answer questions from around 100 investors and analysts.

Shares in Lufthansa decreased by 0.86 percent. Germany's largest airline was the biggest loser at the start of trading on Tuesday, followed by carmakers Daimler with minus 0.85 percent and BMW down 0.78 percent.

On Tuesday, the German Federal Statistical Office (Destatis) announced that turnover in the main construction industry in September was up 7.1 percent compared to last year. All sectors of Germany's construction industry recorded year-on-year growth in turnover, Destatis noted.

The ZEW indicator of economic sentiment by the Leibniz Centre for European Economic Research is scheduled to be released on Tuesday. The indicator is based on an expert survey on economy, inflation rates, interest rates, stock markets and exchange rates and oil price.

The euro recorded slight gains and was trading at 1.175 U.S. dollars, increasing by 0.08 percent on Tuesday morning.

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