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German Stocks Advance as U.S. Factory Output Climbs

German stocks increased for a second day, extending’s the DAX Index’s sixth straight weekly advance, as factory production in the U.S. expanded more than forecast.

SAP AG, the largest maker of business-management software, climbed to a five-month high after Barclays Plc raised its recommendation on the stock. Deutsche Lufthansa AG added 1.7 percent after the airline said sales of first-class tickets have risen more than 10 percent.

The DAX advanced 0.2 percent to 9,168.69 at the close of trading in Frankfurt, bringing this week’s rally to 1 percent. The benchmark measure has surged 20 percent in 2013 as central banks around the world pledged to leave interest rates low for a prolonged period. The broader HDAX Index also increased 0.2 percent today.

U.S. manufacturing climbed more than forecast in October, indicating the partial government shutdown did little to halt the pickup in manufacturing at the start of the fourth quarter. The 0.3 percent advance at factories followed a 0.1 percent gain the prior month and exceeded the 0.2 percent median projection in a Bloomberg survey of economists, figures from the Federal Reserve showed today.

SAP gained 1.6 percent to 60.90 euros, the highest closing price since May 22. Barclays upgraded the shares to overweight, the equivalent of a buy recommendation, from equal weight, citing evidence that the company is moving its focus to cloud computing.

First Class

Lufthansa climbed 1.7 percent to 15.19 euros, the highest level since Aug. 1. Sales of first-class tickets have risen after a revamp of the carrier’s premium cabins and the introduction of cheaper fares with less flexibility aimed at leisure travelers, Jens Bischof, sales chief for Lufthansa’s main brand, said in an interview.

Deutsche Post AG gained 1.6 percent to 25.20 euros after Europe’s largest postal service proposed raising some prices, including increasing the cost of a standard letter stamp to 60 euro cents from 58 cents on Jan. 1.

K+S AG, Europe’s biggest potash supplier, added 4.7 percent to 20.62 euros after Bankhaus Lampe upgraded the shares to buy from hold and increased its price estimate for the stock to 26 euros from 19 euros. Potash prices will stabilize in the near future while sales volumes will remain high, the brokerage said.

HeidelbergCement AG, the world’s third-largest maker of cement, dropped 1.5 percent to 56.24 euros as a gauge of construction companies was among the biggest fallers in the Stoxx Europe 600 Index.

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