Nov. 10 (Bloomberg) -- German stocks advanced for a fifth day as gains in Deutsche Post AG and Allianz SE helped offset a decline in Volkswagen AG on Qatar’s plans to sell preferred shares in the carmaker.

The benchmark DAX Index added 0.4 percent to 5,639.99 at 9:52 a.m. in Frankfurt, extending the longest winning streak since September. The broader HDAX Index also rose 0.4 percent.

The ZEW Center for European Economic Research’s index of investor and analyst expectations slipped to 55 from 56 in October, according to the median of 39 forecasts in a Bloomberg News survey. ZEW releases the report, which aims to predict developments six months ahead, at 11 a.m. in Mannheim today.

Deutsche Post, Europe’s biggest postal service, climbed 1.3 percent to 12.59 euros. Allianz SE climbed 1.2 percent to 83.69 euros as Oddo Securities lifted its recommendation for Germany’s largest insurer to “buy” from “reduce.”

Volkswagen common stock slid 2 percent to 108.75 euros, and preferred shares sank 10 percent to 64.38 euros. Qatar Holding LLC, part of the country’s sovereign wealth fund, plans to sell as much as 25 million of its preferred shares in the German carmaker, or about half its total stake in the company.

Last Updated: November 10, 2009 03:59 EST