FRANKFURT/LONDON (Reuters) -Shares in luxury carmaker Porsche AG are up 3.4% at the top of Frankfurt's blue-chip DAX index after traders points to positive brokerage comments following a call with investors prior to the start of the blackout period.

Porsche, which is majority owned by Volkswagen, held its so called pre-close call on July 9, which one trader said showed sequential margin improvement and a better cash conversion for the second quarter.

Goldman Sachs, keeping a "buy" rating on the stock in a note following the call, said it expected "a more normalized quarter at 2Q, following a challenging 1Q when the company underwent the changeover of its Panamera and Taycan models and experienced some constraints on shipments into the US".

Shares in Porsche AG have lost more than a fifth over the past three months, with one driver being the group's weakness in China, its most important market.