German shares almost unchanged at the start of trading on Tuesday

Source: Xinhua| 2020-04-28 17:12:19|Editor: huaxia

BERLIN, April 28 (Xinhua) -- German stocks were almost unchanged at the start of trading on Tuesday, with the benchmark DAX index decreasing by 1.52 points, or 0.014 percent, opening at 10,658.47 points.

The biggest winner among Germany's largest 30 companies at the start of trading was Lufthansa, increasing by 4.84 percent, followed by Deutsche Bank with 1.89 percent and chipmaker Infineon with 1.57 percent.

According to a media report by Business Insider on Tuesday, the German government intends to save Lufthansa from bankruptcy by investing 9 billion euros (about 9.9 billion U.S. dollars) in Germany's biggest airline.

Shares of Wirecard plummeted by 12.51 percent after it announced on Tuesday that the auditing company KPMG had found no "incriminating evidence" of accusations of balance sheet manipulation.

Although no "substantive findings" were found which would have led to a need to correct Wirecard's annual financial statements from 2016 to 2018, the German financial service provider was the biggest loser at the start of trading on Tuesday.

According to an evaluation that surveyed around 8,800 German companies from almost all sectors, economic output in Germany collapsed by 16 percent during the coronavirus shutdowns, said ifo Institute, a German business climate index, on Tuesday.

The yield on German 10-year bonds was down by 0.003 percentage points to -0.448 percent, and the euro was trading almost unchanged at 1.0831 dollars, decreasing slightly by 0.01 percent on Tuesday morning. Enditem