Tue, 02 Mar 2021

German shares open 0.63 pct higher

Xinhua
19 Jan 2021, 21:55 GMT+10

BERLIN, Jan. 19 (Xinhua) -- German stocks were off to a good start on Tuesday, with the benchmark DAX index opening at 13,935.93 points, up 87.58 points or 0.63 percent.

The biggest winner among Germany's 30 largest listed companies at the start of trading was pharmaceutical giant Bayer, up 1.48 percent, followed by online food delivery company Delivery Hero with 1.27 percent, and chipmaker Infineon with 1.13 percent.

On Tuesday, Swiss bank Credit Suisse raised its price target for Delivery Hero from 124 euros (150 U.S. dollars) to 170 euros (206 dollars), and shares of Delivery Hero opened at around 132 euros (160 dollars).

Consumer prices in Germany in 2020 rose by 0.5 percent on an annual average compared with 2019, the country's Federal Statistical Office said on Tuesday. In December 2020, the inflation rate in Germany remained negative, at minus 0.3 percent.

Unfilled orders of Germany's important manufacturing sector in November 2020 rose by 0.8 percent from the previous month, and unfilled domestic and international orders both increased from the previous month.

The yield on German ten-year bonds went up 0.009 percentage points to minus 0.516 percent, and the euro was trading almost unchanged at 1.2078 U.S. dollars on Tuesday morning.

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