German Stocks Pare Decline; Allianz, Infineon, Daimler Advance

By Daniela Silberstein

Aug. 25 (Bloomberg) -- German stocks pared earlier declines, led by Allianz AG after the Sunday Times reported Commerzbank AG may be close to making a takeover bid for Allianz's Dresdner Bank division. Infineon Technologies AG and Daimler AG also advanced.

The DAX Index fell 4.10, or less than 0.1 percent, to 6,338.32 at 1:40 p.m. in Frankfurt after falling 0.5 percent. The HDAX Index of Germany's 110 biggest companies slipped 0.1 percent to 3,245.12.

Allianz climbed 2.74 euros, or 2.6 percent, to 110.20. Commerzbank may be close to making a 9 billion-euro ($13.3 billion) takeover bid for Allianz's Dresdner Bank division, the Sunday Times reported yesterday, citing unidentified people.

Infineon, Europe's second-largest chipmaker, added 10.5 cents, or 1.7 percent, to 6.05 euros. Daimler, the world's second-largest luxury carmaker, gained 50 cents, or 1.2 percent, to 41.04 euros.

To contact the reporter on this story: Daniela Silberstein in Zurich at dsilberstei2@bloomberg.net.