Xinhua
23 Feb 2021, 16:48 GMT+10
BERLIN, Feb. 23 (Xinhua) -- German stocks saw small gains at the start of trading Tuesday, with the benchmark DAX index growing by 34.94 points, or 0.25 percent, opening at 13,984.98 points.
The biggest winner among Germany's 30 largest listed companies at the start of trading was plastic specialist Covestro, increasing by 2.36 percent, followed by Deutsche Bank with 1.99 percent and aircraft engine manufacturer MTU Aero Engines with 1.33 percent.
On Tuesday, Covestro announced a "strong end to an exceptional year in 2020" although full year sales fell by 13.7 percent to 10.7 billion euros (13 billion U.S. dollars). EBITDA declined by 8.2 percent to 1.5 billion euros as expected as the company implemented "extensive cost-saving measures."
Shares of HeidelbergCement fell by 1.95 percent. The German building materials company was the biggest loser at the start of trading Tuesday after announcing that full year revenues declined by 6.6 percent to 17.6 billion euros due to the decline in sales volumes.
On Tuesday, dialysis specialist Fresenius announced that full year 2020 sales grew by 2 percent to 36.3 billion euros while EBIT slightly declined by 2 percent to 4.6 billion euros. Despite upcoming challenges due to the pandemic, Fresenius expects a "healthy business development" in 2021.
The yield on German ten-year bonds went up 0.033 percentage points to minus 0.314 percent and the euro was trading almost unchanged at 1.2161 dollars, increasing by 0.01 percent on Tuesday morning.
Get a daily dose of Breaking Property News news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Breaking Property News.
More InformationPALO ALTO/TEL AVIV: The battle for top AI talent has claimed another high-profile casualty—this time at Safe Superintelligence (SSI),...
FRANKLIN, Tennessee: Hundreds of thousands of Nissan and Infiniti vehicles are being recalled across the United States due to a potential...
REDMOND, Washington: Microsoft is the latest tech giant to announce significant job cuts, as the financial strain of building next-generation...
LONDON UK - U.S. stock markets were closed on Friday for Independence Day. Global Forex Markets Wrap Up Friday with Greeback Comeback...
SANTA CLARA, California: Nvidia came within a whisker of making financial history on July 3, briefly surpassing Apple's all-time market...
SACRAMENTO, California: California's multibillion-dollar farms are facing a growing crisis—not from drought or pests, but from a sudden...
Mumbai (Maharashtra) [India], June 30 (ANI): The top 7 cities recorded around 1,89,570 units sold between January and June 2025 --...
NAIROBI, July 4 (Xinhua) -- Chinese contractors are helping advance Kenya's construction sector by transferring technologies, the industry...
BERLIN, July 1 (Xinhua) -- Germany's housing market showed strong signs of recovery in the first quarter of 2025, with residential...
SEOUL, June 30 (Xinhua) -- South Korea's industrial output fell for the second successive month due to negative effects of U.S. tariffs...
Former Minnesota Gov. Arne Carlson- Republicans have become radical
Burcum- Im haunted by the Minnesota shooters uncanny police impersonation