German shares drop at start of trading

2021-04-23 09:05:49 GMT2021-04-23 17:05:49(Beijing Time) Xinhua English

BERLIN, April 23 (Xinhua) -- German stocks were off to a shaky start on Friday, with the benchmark DAX index losing 52.76 points, or 0.34 percent, opening at 15,267.76 points.

The biggest winner among Germany's 30 largest listed companies at the start of trading was utility E.ON, up 1.15 percent, followed by carmaker Daimler with 0.94 percent and stock exchange operator Deutsche Boerse with 0.51 percent.

On Friday, Daimler announced that first quarter deliveries, revenues as well as profits "increased significantly, particularly thanks to tailwinds in China," as overall sales grew by 13 percent year-on-year to more than 728,000 vehicles.

Shares of MTU Aero Engines fell 1.42 percent. The German aircraft engine manufacturer was the biggest loser at the start of trading on Friday.

New orders in Germany's main construction industry in February declined 3.7 percent on the previous month, but were still up 3.5 percent year-on-year, the Federal Statistical Office announced on Friday.

The yield on German ten-year bonds declined 0.0095 percentage point to minus 0.2655 percent, and the euro was trading almost unchanged at 1.2019 U.S. dollars, increasing 0.02 percent on Friday morning. Enditem