German Stocks Gain for Second Day on China Exports; K+S Rises

By Cornelius Rahn

Jan. 11 (Bloomberg) -- German stocks advanced for a second day after Chinese trade figures added to signs the global economy is picking up.

The benchmark DAX Index rose 0.8 percent to 6,085.64 as of 9:39 a.m. in Frankfurt, set for its biggest increase in a week. The gauge has surged 66 percent from last year’s low in March as Germany exited its worst recession since World War II. The broader HDAX Index added 0.8 percent today.

China, the driver of the global recovery, yesterday said exports climbed 17.7 percent from a year earlier, the first gain in 14 months, and imports surged 55.9 percent. The third-largest economy expanded an estimated 8.5 percent last year.

K+S AG rallied 2.7 percent to 47.28 euros, headed for its highest close since June 2009, after Europe’s biggest producer of potash was raised to “outperform” from “underperform” at CA Cheuvreux.

Metro AG, Germany’s largest retailer, advanced 2.2 percent to 41.33 euros, snapping a four-day drop. The head of Metro’s Real superstores, Joel Saveuse, said he expects food prices to start rising “moderately” in 2010, Focus magazine reported.

Commerzbank AG, Germany’s second-biggest lender, climbed 4.2 percent to 7.10 euros, its sixth consecutive gain in the longest winning streak since May 2009. Deutsche Bank AG, the country’s largest, increased 1.1 percent to 53.78 euros.

The following shares rose or fell in German markets. Stock symbols are in parentheses.

Bauer AG (B5A GY) climbed for a sixth day, adding 4.2 percent to 33.75 euros. The builder and construction-equipment maker was rated “buy” in new coverage at BofA Merrill Lynch Global Research.

Bilfinger Berger AG (GBF GY), Germany’s second-biggest builder, rallied 3.5 percent to 57.70 euros. The company was raised to “buy” from “hold” at Deutsche Bank, which lifted its share-price estimate to 64 euros from 51 euros.

Centrotec Sustainable AG (CEV GY) jumped 9.1 percent to 10.67 euros, poised for its biggest advance in four months. The company expects operating profit of 30 million euros ($43.5 million) to 32 million euros in 2010.

Continental AG (CON GY), Europe’s second-largest auto-parts maker, rose for a seventh day, adding 2 percent to 47.77 euros. Continental and Schaeffler Group, which owns 90 percent of the company’s shares, shelved plans to merge, Handelsblatt reported, citing unidentified people familiar with the prospectus for Continental’s stock sale.

Gerresheimer AG (GXI GY), a German medical-packaging company, rose 1.2 percent to 25.30 euros. The company said it set up a new facility for medical plastic systems in Indaiatuba, Brazil, which will start operations early in 2010.

Software AG (SOW GY), Germany’s second-largest software maker, dropped 2.5 percent to 77.92 euros, its biggest decline since Dec. 3. The stock was cut to “hold” from “accumulate” at Equinet AG, which said in a report that positive effects from the acquisition of IDS Scheer AG are now “priced in.”

To contact the reporter on this story: Cornelius Rahn in Frankfurt at crahn2@bloomberg.net