German shares unchanged at start of trading on Monday

Source: Xinhua| 2020-02-10 18:50:04|Editor: Shi Yinglun
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BERLIN, Feb. 10 (Xinhua) -- German stocks were almost unchanged at the start of trading on Monday, with the benchmark DAX index decreasing by 37.81 points, or 0.28 percent, opening at 13,476 points.

The biggest winner among Germany's largest 30 companies at the start of trading was the German financial service provider Wirecard, increasing by 0.90 percent, followed by aircraft engine manufacturer MTU Aero Engines and pharmaceuticals company Bayer, both increasing by 0.18 percent.

On Monday, Wirecard announced extending the financial service provider's cooperation with Germany's largest software company SAP in order to develop joint solutions in the areas of new mobility, retail and sport.

"We are very proud of this partnership with SAP," said Florian Eder, head of partner management at Wirecard, adding that "first results" of the cooperation would be presented "in the coming weeks."

Shares of Fresenius Medical Care (FMC) fell by 0.90 percent. The German dialysis specialist was the biggest loser at the start of trading on Monday.

The German luxury car manufacturer Daimler is cutting up to 15,000 jobs, the German business newspaper Handelsblatt reported on Monday.

Daimler is seeking to reduce cost by more than 1.4 billion euros (1.53 U.S. dollars) through company restructuring.

Shortly after trading started on Monday, shares of Daimler moved to the top of the DAX, increasing by 1.03 percent. On Tuesday, Daimler is scheduled to announce its results for Financial Year 2019.

The euro was trading almost unchanged at 1.0945 U.S. dollars, increasing slightly by 0.01 percent on Monday morning.