THE main shareholder in Dublin-based German public sector finance specialist Depfa Bank Plc said yesterday it was selling its 40.8% stake after the bank posted a jump in third-quarter profit and raised its 2003 guidance.

Share prices pushed higher midday as market participants jostled for position ahead of an expected ECB rate cut this afternoon.

Share price were higher midday, in line with the strong late showing on Wall Street on Friday, with Munich Re supported by a broker upgrade, while Bayer was lifted by reports that GlaxoSmithKline is eyeing its pharma division, dealers said.