STOCKS NEWS EUROPE-Infineon leads DAX up on CFO outlook comments

Shares in German chipmaker Infineon (Xetra: 623100 - news) rise 2.4 percent to lead gainers in Germany's blue-chip DAX (Xetra: ^GDAXI - news) , the pan-European FTSEurofirst 300 and a flat European technology index after the company's financial chief told a newspaper it may beat its outlook.

The move also comes in heavy trade, at 36 percent of the stock's average 90-day daily trading volume, against 18 percent for the FTSEurofirst 300.

Chief Financial Officer Dominik Asam told German newspaper Boersen-Zeitung Infineon may earn 20 percent more this fiscal year than originally anticipated at the start..

"The comments of the CFO are encouraging and are mostly in line with our assumptions," says DZ Bank analyst Harald Snitzer. "The optimism that an upswing is on the cards is being confirmed. Industry and automotive should be the trigger," he adds.

Infineon has increased its outlook twice for the current fiscal year, which ends on Sept. 30.

The company said in July it expected revenue of around 3.85 billion euros, a drop of about 1.5 percent, while core operating profit margin is seen at just under 10 percent.

An Infineon spokesman says that this outlook has not changed.

Infineon shares have won a quarter so far this year, slightly outperforming the sector index which is up a fifth.

Reuters messaging rm://harro.tenwolde.thomsonreuters.com@reuters.net