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German shares outperform on Metro, Deutsche Bank

Reuters - UK Focus

LONDON, Oct (HKSE: 3366-OL.HK - news) 19 (Reuters) - German shares outperformed a rising European market on Monday, with Metro (Other OTC: MTRAF - news) up on a positive outlook and Deutsche Bank (Other OTC: DBAGF - news) gaining after saying it was splitting its investment bank into two separate units.

The Frankfurt DAX index was up 0.7 percent, outperforming the pan-European FTSEurofirst 300 index's rise of 0.5 percent to 1,443.82 points by 0715 GMT after closing at its highest level in five weeks in the previous session.

Metro shares rose 3 percent, the top gainer in the FTSEurofirst 300 index, after saying it was optimistic for the Christmas trading period as its like-for-like sales rose 1.3 percent in the final quarter of its fiscal year.

Shares (Berlin: DI6.BE - news) in Germany's Wincor Nixdorf (Swiss: WIN.SW - news) surged 21.7 percent as U.S (Other OTC: UBGXF - news) . automated teller machine maker Diebold agreed to buy the company for 1.7 billion euros ($1.9 billion).

Mining stocks fell after data showed China, the world's biggest metals consumer, grew below 7 percent for the first time since the global financial crisis. (Reporting by Atul Prakash; Editing by Lionel Laurent)