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2021-05-12 04:35:39 GMT2021-05-12 12:35:39(Beijing Time) Xinhua English
FRANKFURT, May 12 (Xinhua) A global shortage of semiconductor chips is taking its toll on the European manufacturing industry, hindering the sector s recovery and pushing Europe to rethink its supply chain strategy.
Automakers are among the worst hit, as chips are now vital for everything from a car s battery system to in-car computer features. Several car makers in Europe have recently curtailed or halted production after failing to secure crucial components.
German automaker Daimler in late April sent employees on short-time work and temporarily halted production at two plants in Bremen and Rastatt due to chip delivery bottlenecks. Audi later also partially stopped production at its Neckarsulm site.
German shares unchanged at the start of trading on Thursday
Xinhua
06 May 2021, 20:30 GMT+10
BERLIN, May 6 (Xinhua) German stocks were almost unchanged at the start of trading on Thursday, with the benchmark DAX index losing 0.01 points, opening at 15,170.77 points. The biggest winner among Germany s 30 largest listed companies at the start of trading was pharmaceutical company Merck, increasing by 1.27 percent, followed by carmaker BMW with 0.95 percent and chemical and pharmaceutical giant Bayer with 0.84 percent. Shares of Allianz fell by 3.72 percent. The German insurance company was the biggest loser at the start of trading on Thursday. New orders in Germany s manufacturing sector in March grew by 3.0 percent from the previous month, up 27.8 percent year-on-year, the country s Federal Statistical Office announced on Thursday.
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