BERLIN, Oct. 27 (Xinhua) -- After heavy losses on Monday over fears of a second COVID-19 lockdown, German stocks were almost unchanged at the start of trading on Tuesday, with the benchmark DAX index growing by 29.24 points, or 0.24 percent, opening at 12,206.42 points.
The biggest winner among Germany's largest 30 companies at the start of trading was the country's software company SAP, increasing by 2.03 percent, followed by Deutsche Bank with 1.32 percent and online food delivery company Delivery Hero with 1.08 percent.
British investment bank Barclays lowered its price target for SAP from 158 euros (186.58 U.S. dollars) to 134 euros but left the rating at "Overweight." Shares of SAP were trading at around 100 euros after plummeting by around 22 percent on Monday after the company announced its quarterly results and reduced its targets for the fiscal year 2020.
Shares of Deutsche Telekom fell by 0.72 percent. The German telecommunications company was the biggest loser at the start of trading on Tuesday.
On Tuesday, plastic specialist Covestro announced that net income in the third quarter of 2020 increased by almost 22 percent to 179 million euros while sales fell by 12.7 percent to 2.8 billion euros due to "lower selling prices." Shares of Covestro grew by 0.47 percent at the start of trading on Tuesday.
The yield on German ten-year bonds went down 0.003 percentage points to minus 0.575 percent, and the euro was trading almost unchanged at 1.1810 dollars, decreasing by 0.01 percent on Tuesday morning. Enditem
