German shares almost unchanged at start of trading Friday

Source: Xinhua| 2020-11-13 19:08:01|Editor: huaxia

BERLIN, Nov. 13 (Xinhua) -- German stocks opened at 13,036.97 points, almost unchanged on Friday, with the benchmark DAX index losing 15.98 points or 0.12 percent.

The biggest winner among Germany's largest 30 companies at the start of trading was housing company Deutsche Wohnen, increasing by 2.22 percent, followed by stock exchange operator Deutsche Boerse with 1.09 percent and housing company Vonovia with 0.45 percent.

Shares of Deutsche Bank fell by 1.13 percent, the biggest loser at the start of trading.

On Friday, Deutsche Wohnen announced that operating result (EBITDA) in the first nine months of 2020 declined by around 9 percent year-on-year to 508 million euros (600 million U.S. dollars) with profits down to 307.9 million euros (364 million dollars).

Selling prices in Germany's wholesale sector in October decreased by 0.2 percent from the previous month and were even down 1.9 percent year-on-year, the country's Federal Statistical Office (Destatis) announced.

German business insolvencies in August declined sharply by 35.4 percent compared to the same period of last year. However, Destatis noted that economic problems of many businesses due to the COVID-19 crisis had "not been reflected yet by an increase in reported business insolvencies" as the obligation to file for insolvency was currently suspended.

The yield on German ten-year bonds went down 0.009 percentage points to minus 0.543 percent, and the euro was trading almost unchanged at 1.1806 dollars, decreasing by 0.01 percent on Friday morning. Enditem