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Vonovia leads DAX after results, pulls up property firms

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Updates share move and peer readacross; adds Vonovia guidance

** Vonovia VNAn.DE jumps 5.6%, leading the DAX .GDAXI and lifting peers, after the company's Q1 results, commentary

** Vonovia raising FYorganic rental growth guidance to ~4% pleased the market by indicating rent hikes should start to beat inflation, says John Vuong of Van Lanschot Kempen

** J.P. Morgan says Tuesday's update is "encouraging", pointing to progress on disposals

** Baader analysts expect Vonovia to deliver on its disposal program during the year, easing "still elevated debt KPIs"

** Vuong says 3 billion euros property sales target for FY indicates there are signs of life in the German property sector

** This, he adds, is helping remove balance sheet uncertainty in peers TAG Immobilien TEGG.DE, LEG Immobilien LEGn.DE and Aroundtown AT1.DE

** TAG Immobilien is up 5.2% as of 09.12 GMT and top of the MDAX, followed by LEG Immobilien up 3.4% and Aroundtown up 2%

Reporting by Louis van Boxel-Woolf and Paolo Laudani


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