German stocks on Tuesday continued to show little movement at the start of trading with the benchmark DAX index losing 31.84 points, or 0.27 per cent, opening at 11,921.94 points.
The biggest winner among Germany’s largest 30 companies at the start of trading was housing company Vonovia, increasing 0.26 per cent, followed by carmaker Daimler with 0.24 per cent.
Earlier, shares of German chip manufacturer Infineon were among the top-3 DAX titles at the start of trading, increasing 0.19 per cent.
Deutsche Boerse had earlier announced that it would move up to the leading European index, the Euro Stocks 50.
Germany’s stock exchange operator had increased profits in the first half of the year and shares were at an all-time high.
Shares of Thyssenkrupp lost 1.22 per cent on Tuesday; the German industrial company would lose its place in Germany’s top-30 DAX index on Wednesday and was the biggest loser at the start of trading.
After more than 30 years in Germany’s DAX index, shares of ThyssenKrupp would be moved from the DAX to the smaller MDAX index on Wednesday.
The Swiss bank Credit Suisse Tuesday updated its valuation of Thyssenkrupp to “Underperform” and set a price target of nine euros (currently around 11 euros).
According to an analyst, Carsten Riek, the restructuring was taking place only slowly and there would be risks for the balance sheet.
The state Minister of Economic Affairs, Andreas Pinkwart, said it was an expression of the change in the economy that digital companies achieve higher market valuations than traditional industry.
However, the euro hit a low on Tuesday, at the start of trading.
It was traded at 1.0931 U.S. dollars, its lowest level since mid-2017.
