German Stocks Rise, Led by Allianz; Continental, Metro Advance

German stocks advanced for a second day, paced by Allianz SE after Europe's largest insurer posted earnings that beat analysts' estimates.

Continental AG climbed after Credit Suisse Group added the shares to its ``focus list.'' Deutsche Post AG rallied as Unicredit recommended investors buy the shares.

The benchmark DAX Index rose 77.92, or 1 percent, to 7,897.39 at 9:48 a.m. in Frankfurt. DAX futures expiring in December increase 78.5, or 1 percent, to 7,936. The HDAX Index of the country's 110 biggest companies gained 1 percent.

Allianz rallied 4.5 percent to 147.68 euros after the insurer reported a 21 percent increase in third-quarter profit to 1.92 billion euros ($2.83 billion), as lower taxes and earnings from insurance cushioned losses at its Dresdner Bank unit. That beat the 1.45 billion-euro median estimate of 18 analysts surveyed by Bloomberg.

Continental increased 3.5 percent to 100.91 euros. Credit Suisse rated shares of the world's fourth-largest tiremaker ``outperform'' in new coverage and added them to its ``focus list.''

``Automotive suppliers have a historic opportunity to benefit from a rising tide of environmental legislation,'' analysts including Stuart Pearson wrote in a report dated today.

Deutsche Post gained 1.7 percent to 21.36 euros as Unicredit raised its recommendation for the shares to ``buy'' from ``hold.''

The company's shares rallied 3.8 percent yesterday as Europe's largest postal service said it will pay more cash to investors as part of a strategy to boost the share price.

The following stocks also rose or fell in German markets. Symbols are in parentheses.
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