DAX index surges on SAP AG increase in payout

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Source: Dukascopy Bank
German DAX index traded higher on Friday, supported by oil firms and earnings reports. SAP AG jumped 1.5% after the producer of business management software announced plans to increase its dividend by 83%, adding a special premium for 40th anniversary. SAP AG also posted a 4th quarter profit and predicted positive earnings outlook for 2012. BASF SE also supported index on the upside after company said it expects to beat record sales. At the moment of writing DAX index is 0.47% or 32 points up at 6,841.46.

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