Fri, 07 Aug 2020

BERLIN, July 6 (Xinhua) -- German stocks were off to a good start on Monday, with the benchmark DAX index rising 246.59 points, or 1.97 percent, opening at 12,774.77 points.

The biggest winner among Germany's largest 30 companies at the start of trading was Deutsche Bank, increasing by 3.82 percent, followed by aircraft engine manufacturer MTU Aero Engines with 3.08 percent and automotive supplier Continental with 2.92 percent.

Shares of Wirecard fell by 10.44 percent. The German financial service provider was the biggest loser at the start of trading on Monday.

The British newspaper Financial Times (FT) reported on Sunday, citing annexes to the special audit by auditor KPMG, that companies directly controlled by Wirecard in Europe and America had been in the red for years.

New orders in German manufacturing increased by seasonally and calendar adjusted 10.4 percent in May compared with the previous month, the Federal Statistical Office (Destatis) announced on Monday. Compared to last year, new orders in manufacturing even decreased by 29.3 percent.

The yield on German ten-year bonds went up 0.012 percentage points to minus 0.420 percent, and the euro was trading unchanged at 1.1245 U.S. dollars on Monday morning.

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