Deutsche Telekom 7 percent stake for sale

Germany's DAX Index advanced for the first day in three, paced by lenders including Deutsche Bank AG, on optimism that earnings due this week from U.S. banks including Citigroup Inc. will exceed expectations.

&to=http:// ' target=_blank>Deutsche Telekom AG declined. Germany's government will sell a 7 percent stake in Europe's largest phone company worth as much as 4.45 billion euros ($5.52 billion).

The DAX added 6.57, or 0.2 percent, to 4022.11 as of 4:36 p.m. in Frankfurt. The HDAX Index of the country's 110 biggest companies gained 0.2 percent to 2058.46. DAX September futures climbed less than 0.1 percent to 4038.5.

&to=http:// ' target=_blank>Bank stocks were one of the best performers among the 18 industry groups on Germany's Prime All Share Performance Index, which tracks 377 companies listed on Deutsche Boerse AG's main Prime Standard market. The sub-index rose 0.6 percent, outpacing the 0.1 percent advance by the broader measure, reports Bloomberg.

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