German shares almost unchanged at the start of trading on Wednesday

Wed, 23 Sep 2020

German shares almost unchanged at the start of trading on Wednesday

Xinhua
16 Sep 2020, 21:44 GMT+10

BERLIN, Sept. 16 (Xinhua) -- German stocks were almost unchanged at the start of trading on Wednesday, with the benchmark DAX index increasing by just 6.49 points, or 0.05 percent, opening at 13,224.16 points.

The biggest winner among Germany's largest 30 companies at the start of trading was mail and logistics company Deutsche Post, increasing by 1.53 percent, followed by sportswear manufacturer Adidas with 0.86 percent and online food delivery company Delivery Hero with 0.82 percent.

Delivery Hero plans to increase the number of employees located in Berlin by 50 percent to 3,000 by the end of the year, Niklas Oestberg, chief executive officer (CEO) of Delivery Hero told the German newspaper Sueddeutsche Zeitung on Wednesday.

"Berlin is a good place for us, we get a lot of excellent talent here, that is important," Oestberg said. Delivery Hero was promoted to the DAX last month as a replacement for the insolvent financial service provider Wirecard.

Shares of MTU Aero Engines fell by 0.89 percent. The German aircraft engine manufacturer was the biggest loser at the start of trading on Wednesday.

The yield on German ten-year bonds went down 0.006 percentage points to minus 0.487 percent, and the euro was trading almost unchanged at 1.1850 U.S. dollars, increasing by 0.01 percent on Wednesday morning.

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