German shares gain 1.1 pct at start of trading on Wednesday

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BERLIN, Feb. 3 (Xinhua) — German stocks were off to a good start on Wednesday, with the benchmark DAX index rising by 151.56 points, or 1.10 percent, opening at 13,986.72 points.

The biggest winner among Germany’s 30 largest listed companies at the start of trading was carmaker Daimler, increasing by 2.40 percent, followed by technology giant Siemens with 2.25 percent and carmaker Volkswagen with 1.94 percent.

On Wednesday, Siemens announced an “outstanding start” in the first quarter of the company’s fiscal year 2021 with revenues up 7 percent year-on-year to around 14 billion euros (16.8 billion U.S. dollars). Following the announcement, shares of Siemens reached a new all-time high of 137 euros in early trading on Wednesday.

Shares of Beiersdorf fell by 0.07 percent. The German consumer goods company was the biggest loser at the start of trading on Wednesday.

The yield on German ten-year bonds went up 0.010 percentage points to minus 0.476 percent, and the euro was trading unchanged at 1.2044 U.S. dollars on Wednesday morning. Enditem

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