German Stocks Pare Losses; Postbank, Deutsche Boerse Advance

By Daniela Silberstein

Sept. 10 (Bloomberg) -- German stocks pared earlier declines, led by Deutsche Postbank AG as Deutsche Bank AG's Chief Executive Officer Josef Ackermann said Germany's biggest consumer bank by clients would fit ``strategically.''

Deutsche Post AG, Europe's biggest postal service, and Deutsche Boerse AG also advanced.

The DAX Index slipped 4.25, or 0.1 percent, to 6,229.16 at 1:23 p.m. in Frankfurt after dropping as much as 0.9 percent. DAX Index futures expiring in June lost 0.1 percent to 6,230. The HDAX Index of Germany's 110 biggest companies fell 0.1 percent.

Postbank climbed 1.31 euros, or 2.9 percent, to 46.01. Ackermann said the company would strengthen Germany's largest bank. Such an acquisition would depend on the price and strategy, Ackermann said at a banking conference in Frankfurt today.

Deutsche Post, the owner of Postbank, added 22 cents, or 1.4 percent, to 15.98 euros. FedEx Corp., the largest air-parcel shipper, said it will report a profit of $1.23 a share for the quarter ended Aug. 31, exceeding an earlier forecast.

Deutsche Boerse rallied 2.05 euros, or 3.3 percent, to 63.80. The operator of the Frankfurt stock exchange said it will ask its board to rebuff pressure from the company's two biggest investors to sell the equities unit, or merge with another European exchange.

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