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DAX Little Changed In Cautious Trade

German stocks were little changed on Monday amid concerns that rising coronavirus cases could prompt some U.S. states to backtrack on pandemic reopenings.

Weeks after most U.S. states began lifting their lockdowns, some states are now reconsidering their reopening plans amid a surge in virus cases.

The benchmark DAX was up 9 points at 12,098 after losing 0.7 percent on Friday.

Wirecard AG shares jumped as much as 144 percent. After filing for insolvency, the scandal-hit payments company said that its business activities will be continued.

TLG Immobilien AG edged down slightly. The company has reached an agreement with an investor focused on retail properties to sell a retail property portfolio located in various locations across Germany for about 190 million euros.

TUI AG soared 4.3 percent on reports that the travel company has seen a 50 percent week-on-week increase in bookings over the past week.

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