BERLIN, Oct. 28 (Xinhua) -- German stocks were off to a shaky start on Wednesday, with the benchmark DAX index losing 215.26 points, or 1.8 percent, opening at 11.848,31 points.
The biggest winner among Germany's largest 30 companies at the start of trading was online food delivery company Delivery Hero, increasing by 0.15 percent, followed by pharmaceutical company Merck decreasing the least with minus 0.37 percent and dialysis specialist Fresenius Medical Care with minus 0.46 percent.
Shares of HeidelbergCement fell by 3.82 percent. The German building materials company was the biggest loser at the start of trading on Wednesday.
On Wednesday, Deutsche Bank announced that net revenues in the third quarter increased by nine percent to six billion euros (7.1 billion U.S. dollars) setting the financial institution on track to reach its full year targets. Profit before tax reached 482 million euros after losses of 687 million euros in Q3 last year.
German chemical giant BASF also announced Q3 figures and reported sales of 13.8 billion euros, a decrease of around seven percent year-on-year. For the full year 2020, BASF expects a "slight decline" in sales compared with the previous year, mainly due to "weaker demand as a consequence of the coronavirus pandemic."
Beiersdorf was the third DAX company to present its business figures. In the first nine months of the year, the German consumer goods company saw sales decreased by 7.1 percent year-on-year to 5.2 billion euros and forecasted a similar loss in turnover for the full fiscal year.
Prices for goods imported to Germany in September decreased by 4.3 percent year-on-year but slightly grew by 0.3 percent compared to the previous month, the country's Federal Statistical Office announced on Wednesday. Prices for Germany's exported goods declined by 1.1 percent year-on-year.
The yield on German ten-year bonds went down 0.028 percentage points to minus 0.635 percent, and the euro was trading almost unchanged at 1.1779 U.S. dollars, increasing by 0.01 percent on Wednesday morning. Enditem
