BERLIN, Sept. 2 (Xinhua) -- German stocks started almost at last week's closing level on Monday, with the benchmark DAX index rising by only 0.71 points, or 0.01 percent, opening at 11,939.99 points.
The German main index DAX showed little reaction to the continuing global trade dispute. As announced, the United States introduced punitive tariffs on Chinese imports worth 125 billion U.S. dollars on Sept. 1.
The biggest winner among Germany's largest 30 companies at the start of trading was ThyssenKrupp, increasing 0.73 percent, followed by payment provider Wirecard with 0.55 percent and chip manufacturer Infineon with 0.39 percent.
The industrial conglomerate ThyssenKrupp is currently evaluating to either sell or split of its elevator business valued at around 17 billion dollars.
"We have to see what is on the table and then draw a line under it and say what is the right development for Thyssenkrupp, for Thyssenkrupp's stockholders and the company itself," said ThyssenKrupp CEO Guido Kerkhoff.
In the United States, Volkswagen announced to pay almost 100 million dollars to car owners for incorrect data on fuel consumption. The German car manufacturer had agreed to a settlement for around 98,000 vehicles of its brands Volkswagen, Bentley, Audi and Porsche.
Shares of Bayer which have fallen significantly since the takeover of Monsanto and the ongoing lawsuits in the United States of weed killer Roundup lost 1.02 percent. The German pharmaceutical giant was the biggest loser at the start of trading on Monday.
"An amicable settlement is a likely option given the pressure on Bayer management to resolve the overhang and underperformance of the stock," commented Citi analyst Peter Verdult last week.
Following the state elections in Sachsen and Brandenburg, where the populist right-wing party AfD achieved large gains, is causing some concern to German businesses.
"The relative strength of the AfD is causing us employers increasing concern, as the verbal statements of leading party members are likely to damage the good reputation of the economy, which is also internationally active in these federal states," said president of the Confederation of German Employers' Associations Ingo Kramer.