German Stocks Climb; TUI and Deutsche Postbank Pace the Gains
Banking stocks were among the best performers in the pan- European Dow Jones Stoxx 600 Index today, driven by speculation Barclays Plc of the U.K. is preparing a takeover bid for ABN Amro Holding NV, the largest Dutch lender.
DaimlerChrysler AG jumped 2.36 euros, or 4.4 percent, to 56.37 euros. ``There are rumors about a near-time sale of the carmaker's Chrysler unit,'' said Florian Weber, chief executive officer of DKM Wertpapierhandelsbank AG in Dusseldorf.
Goldman, Sachs & Co. raised its recommendation on shares of Stuttgart, Germany-based DaimlerChrysler to ``neutral'' from ``sell,'' saying a sale of the Chrysler unit to private equity could be the most attractive option as the buyer would likely be interested in both the automotive and financial services assets.
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