BERLIN, May 13 (Xinhua) -- German stocks were off to a shaky start Wednesday, with the benchmark DAX index losing 149.51 points, or 1.38 percent, opening at 10,669.99 points.
The biggest winner among Germany's largest 30 companies at the start of trading was Lufthansa, increasing 0.08 percent. Germany's biggest airline was the only DAX company with gains at the start of trading Wednesday.
After trading had closed on Tuesday, Lufthansa published a list of its international subsidiaries in countries that are on the European Union list of non-cooperative countries in order to provide transparency as requested by a number of German politicians.
Shares of software company SAP came in second with a decrease of 0.45 percent, followed by consumer goods company Beiersdorf with a decrease of 0.90 percent.
Shares of Deutsche Bank fell by 3.23 percent, making the Germany's largest bank the biggest loser of the DAX index at the start of trading Wednesday.
On Tuesday evening local time, Deutsche Bank published the speech of chief executive officer (CEO) Christian Sewing for the annual general meeting which will take place virtually next week. "If we continue to pursue our transformation program, we must continue to consistently reduce costs," the CEO's manuscript reads.
"Unfortunately, this also means that we must implement the job cuts as planned," the speech continues. By the end of 2022, Deutsche Bank is intending to reduce the number of full-time positions by around 18,000 to 74,000 worldwide.
The yield on German ten-year bonds went down by 0.029 percentage points to minus 0.536 percent and the euro was trading almost unchanged at 1.0847 U.S. dollars, decreasing slightly by 0.01 percent on Wednesday morning. Enditem
