German shares lose 0.83 per cent

Monitoring Desk

BERLIN: German stocks were off to a shaky start on Tuesday, with the benchmark DAX index decreasing by 114.95 points, or 0.83 percent, opening at 13,668.94 points.

All of Germany’s 30 largest listed companies were trading at a minus at the start of trading. Germany’s largest bank Deutsche Bank decreased by 0.04 percent, followed by housing company Vonovia, decreasing 0.19 percent, and pharmaceutical company Merck, decreasing 0.2 percent.

Deutsche Boerse showed the biggest losses at the start of trading. Shares of the German stock exchange operator fell by 3.74 percent after it published its preliminary results for the full year of 2019 on Monday.

Net revenues for Deutsche Boerse increased by 6 percent and went up to 2.9 billion euros while adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) climbed to 1.81 billion euros (1.96 billion dollars), the German stock exchange company said.

The German building materials company Heidelberg Cement published its results for the business year of 2019 on Tuesday, which saw revenues increase by 4.3 percent to 18.9 billion euros (20.46 billion dollars).

Following the announcement, shares of Heidelberg Cement fell by 1.61 percent on Tuesday morning. The euro was trading almost unchanged at 1.0838 US dollars, increasing slightly by 0.01 percent on Tuesday morning.