German shares unchanged at start of trading

Xinhua News Agency | Sep 13, 2019 at 9:22 AM

BERLIN, Sept. 13 (Xinhua) -- Following seven trading days of growth, German stocks were almost unchanged at the start of trading on Friday, with the benchmark DAX index rising by 2.47 points, or 0.02 percent, to 12,412.72 points.

The biggest winner among Germany's 30 largest companies at the start of trading was German pharmaceutical company Merck, increasing 0.78 percent, followed by electric utility company E.ON with 0.57 percent and steel giant ThyssenKrupp with 0.55 percent.

Shares of Merck profited from the company's announcement to return its special materials business to the growth zone. Starting in 2020, the company is expecting growth rates between 2-3 percent annually.

On Thursday, the European Central Bank cut its main deposit rate by 10 basis points to a historic low of -0.5 percent but left the key interest rate unchanged.

Shares of Deutsche Bank fell by 0.93 percent. The German bank was the biggest loser at the start of trading on Friday.