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German Stocks Including SAP Fall; Volkswagen, ThyssenKrupp Gain

By Henrietta Rumberger

Oct. 8 (Bloomberg) -- German stocks including SAP AG fell. The software maker announced it will acquire Business Objects SA. Volkswagen AG and ThyssenKrupp AG led rising stocks.

The DAX Index dropped 6.42, or 0.1 percent, to 7,995.76 at 12:01 p.m. in Frankfurt. DAX futures expiring in December advanced 4, or 0.1 percent, to 8,065.5. The HDAX Index of the country's 110 biggest companies was little changed at 4,104.79.

SAP fell 2.14 euros, or 5.1 percent, to 39.49 euros. The world's largest maker of business-management software agreed to buy Business Objects for more than 4.8 billion euros ($6.8 billion), the biggest purchase in the company's 35-year history. Business Objects is the world's largest maker of software to track corporate databases.

ThyssenKrupp gained 33 cents, or 0.7 percent, to 45.34 euros. Germany's largest steelmaker expects to report its ``best'' full-year results as demand grows for carbon steel, Chief Executive Officer Ekkehard Schulz told a Berlin news conference.

Profit before tax and one-time items for the fiscal year ended Sept. 30 was about 3.6 billion euros and sales totaled more than 50 billion euros, according to Schulz.

Volkswagen added 2.54 euros, or 1.5 percent, to 170.51 euros.

The following stocks also rose or fell in Germany. Stock symbols are in parentheses.

4SC AG (VSC GY) climbed 15 cents, or 4.6 percent, to 3.40 euros. The biotechnology company released its last patient from the current phase IIa clinical trial according to plan.

Air Berlin Plc (AB1 GY) rallied 76 cents, or 6.1 percent, to 13.25 euros. Europe's third-biggest discount airline carried 21 percent more passengers last month after cutting fares and adding flights.

Aixtron AG (AIX GY) increased 4 cents, or 0.6 percent, to 7.04 euros. The maker of machines to coat semiconductors agreed to buy Nanoinstruments Ltd. in the U.K. for an undisclosed sum to add products. Nanoinstruments supplies equipment for the production of nanotubes, nanowires and nanofibers, Aixtron said today.

BASF AG (BAS GY), the world's largest chemical company by sales, rose 1.46 euros, or 1.5 percent, to 97.43 euros, helped bi lower oil prices. Crude oil fell below $81 a barrel in New York on speculation U.S. stockpiles will increase because of refinery repairs. The contract for November delivery dropped as much as 0.7 percent to $80.67 on the New York Mercantile Exchange.

Conergy AG (CGY GY) dropped 3.72 euros, or 5.6 percent, to 62.28 euros, the biggest decline in more than a year. Germany's largest solar-power company named Joerg Spiekerkoetter as its new chief financial officer. Spiekerkoetter will take over the post starting Nov. 1 from Heiko Piossek, Conergy said.

``Things like this trigger nervousness,'' said Karsten von Blumenthal, a Hamburg-based analyst at SES Research with a ``hold'' rating on Conergy shares. ``People are wondering whether there's something behind this change that we don't know about.''

Cropenergies AG (CE2 GY) lost 10 cents, or 1.9 percent, to 5.22 euros. Deutsche Bank AG cut its recommendation on the ethanol maker to 6 euros from 7.5 euros.

Deutsche Boerse AG (DB1 GY) advanced 58 cents, or 0.6 percent, to 105.73 euros. The operator of the Frankfurt Exchange said it bought 169,989 of its own shares last week.

Douglas Holding AG (DOU GY) rose 50 cents, or 1.1 percent, to 44.55 euros. Europe's largest retailer of make-up and perfumes said annual sales rose 12 percent to 3 billion euros on new stores and expansion outside its German home market.

Jenoptik AG (JEN GY) gained 9 cents, or 1.3 percent, to 6.94 euros. The optical group descended from the microscope company founded by Carl Zeiss plan to double sales in five years as it expands in traffic management and sensors, Chief Executive Officer Michael Mertin said.

``We want to be a billion-euro company again, not because it is a nice and large, round number. To compete internationally, we need to strengthen our individual businesses so they can survive over the long term,'' Mertin, who took over the top job on July 1, said in an interview in New York.

Vita 34 International AG (V3V GY) lost 14 cents, or 0.9 percent, to 15 euros. The holding company for an umbilical cord blood bank that offered shares to the public in March reported third-quarter profit fell and said higher marketing costs will lead to a loss this quarter.

Wacker Chemie AG (WCH GY) climbed 5.99 euros, or 3.5 percent, to 177.15 euros. Reuschel & Co. initiated coverage of shares of the world's second-largest supplier of polysilicon used in electronics with an ``accumulate'' recommendation.

To contact the reporter on this story: Henrietta Rumberger in Frankfurt at hrumberger@bloomberg.net.

Last Updated: October 8, 2007 06:12 EDT

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