Germany’s biggest pharmaceuticals company has taken an enormous hit on the stock market after a court in the US ordered subsidiary company Monsanto to pay $290 million worth of damages to a terminally ill groundskeeper in California.
German food delivery firm Delivery Hero successfully dipped its first toe into the Frankfurt stock market Friday,
in an initial public offering highly anticipated by investors.
German pharmaceutical firms saw their stock prices drop on Thursday morning after US President-Elect Donald Trump used part of his chaotic press conference the day before to say that the US should negotiate better prices from drug companies.
Innogy, the renewables subsidiary of German energy giant RWE, debuted on the Frankfurt stock exchange on Friday with investors snapping up shares in Europe's largest initial public offering in years.
In a study of the world's most valuable brands, ten German titles placed in the top 100. But without Volkswagen getting itself into hot water over emissions cheating the result could have been even better.
Germany's most important stock market index continued to suffer the effects of plunging confidence in Asia on Monday, losing around four percent of its value after a sharp fall in early-morning trading.
Start-up platform Rocket Internet entered the Frankfurt stock market on Thursday, in what was hailed as a milestone for German online firms, but the company's share price immediately fell by more than ten percent.
The merger of Deutsche Börse and NYSE Euronext, which would create the world's largest market operator worth over $17 billion (€14 billion), looks seriously compromised just weeks from an EU competition decision.
The financial market formed by operators Deutsche Börse and NYSE Euronext will probably use the latter's stock trading platform, the head of the German operator said on Monday in a newspaper report.
Unemployment in Germany is at its lowest level in 15 years and was better than expected this January, despite stock market volatility and fears of a US recession. The number of unemployed increased in January by 253,000 to 3.66 million, according to a report by the Federal Agency of Employment (BA) on Thursday. January and February are usually slow months for the economy, however, the milder weather might have helped to soften the seasonal effect.
The Dax, an index of the top 30 German companies, made a 5 percent gain on Thursday, as good earnings in the real economy, as well as gains in Asian and American markets helped calm the mass panic on the bourses.
Shares prices fell and rose again in Frankfurt on Wednesday as the US Federal Reserve enacted an emergency 75 basis point cut. During the afternoon, the Dax, a composite index of the 30 biggest German companies, had fallen almost 6 percent and was at 6386 points, its lowest point since December 2006.
