Around the World: Germany

GERMANY

GERMAN SHARES led European markets higher, and the Xetra DAX closed up 1.45 per cent at 5,175.57.

SAP preference shares rose 17 per cent to 321 euros after the business software maker reported better-than-expected sales, while Siemens rose over 4 per cent after reporting a 17 per cent rise in first-quarter sales. Deutsche Telekom fell 1.42 per cent to 36.08 euros after the finance ministry said it saw no reason to dilute its voting rights, apparently in response to Italian demands to approve the merger with Telecom Italia.