German shares with little change at the start of trading on Friday

Sat, 15 Aug 2020

German shares with little change at the start of trading on Friday

Xinhua
31 Jul 2020, 18:30 GMT+10

BERLIN, July 31 (Xinhua) -- German stocks showed little change at the start of trading on Friday, with the benchmark DAX index increasing 23.45 points, or 0.19 percent, opening at 12,403.10 points.

The biggest winner among Germany's 30 largest listed companies at the start of trading was building materials company HeidelbergCement, increasing by 2.25 percent, followed by financial service provider Wirecard with 2.14 percent and car manufacturer Volkswagen with 1.36 percent.

On Thursday, HeidelbergCement announced that revenues decreased by 10.4 percent in the first half of the year compared with the previous year. The result from current operations before depreciation and amortization fell by 2.4 percent to 1.40 billion euros (1.67 billion U.S. dollars).

Shares of Covestro fell by 2.52 percent. The German chemicals group was the biggest loser at the start of trading on Friday.

Also on Friday, the Federal Statistical Office (Destatis) announced that turnover in retail trade in June was in real terms 1.6 percent lower than last month and 5.9 percent lower year-on-year.

The yield on German 10-year bonds went down 0.002 percentage points to minus 0.549 percent, and the euro was trading almost unchanged at 1.1844 U.S. dollars, increasing slightly by 0.01 percent on Friday morning.

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