June 5 (Bloomberg) -- German stocks including Commerzbank AG and Bayer AG advanced. Adidas AG declined.

The DAX Index increased 6.08, or 0.1 percent, to 7982.87 as of 12:01 p.m. in Frankfurt. The HDAX Index of the country's 110 biggest companies increased 8.57, or 0.2 percent, to 4114.60. DAX futures expiring in June added 3.5, or less than 0.1 percent, to 7994.50.

Commerzbank, Germany's second-largest bank, rose 90 cents, or 2.4 percent, to 37.90 euros on takeover speculation.

``Rumors Citigroup Inc. might bid for Commerzbank are boosting the shares,'' said Joerg Treptow, a trader at M.M. Warburg & Co. in Hamburg. Commerzbank spokesman Peter Pietsch and Ian Villiers, a spokesman for Citigroup in London, both declined to comment.

Bayer gained 65 cents, or 1.2 percent, to 55.13 euros. Germany's biggest drugmaker and Onyx Pharmaceuticals Inc. said yesterday a study found their Nexavar drug is the first to help people live longer with liver cancer, driving Onyx's shares up 8.6 percent in regular U.S. trading.

Adidas slipped 50 cents, or 1.1 percent, to 46.50 euros. Billionaire sports retailer Mike Ashley has made at least 43 million euros ($58 million) by selling his stake in the world's second-largest sporting goods maker, the Financial Times reported, without saying where it got the information.

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

Aareal Bank AG (ARL GY) increased 1.11 euros, or 2.9 percent, to 39.21 euros. Morgan Stanley rated shares of the commercial property lender ``overweight'' in resumed coverage, setting its price estimate to 46 euros.

``We remain high conviction in the name as the best restructuring story in German banks,'' analysts including Ronny Rehn in London wrote in a report published today.

Air Berlin Plc (AB1 GY), Europe's third-biggest discount airline, shed 22 cents, or 1.4 percent, to 16.09 euros. Ryanair Holdings Plc, the region's No. 1, said today profit will climb only about 5 percent this year, with losses in the second half, as yields, or average ticket prices, drop 5 percent because of weakening demand.

Allianz SE (ALV GY) advanced 1.20 euros, or 0.7 percent, to 173.85 euros. Index provider Dow Jones Indexes, a unit of Dow Jones & Co., said yesterday Europe's largest insurer will enter the Dow Jones Global Titans 50 Index effective June 18.

Conergy AG (CGY GY) gained 3.37 euros, or 6 percent, to 59.91 euros. Citigroup Inc. raised its price estimate for the country's largest solar-power company 9.4 percent to 70 euros.

``We feel less nervous about Conergy's risk profile, reducing the discount we applied before'' after accompanying Chief Executive Officer Hans-Martin Rueter on a roadshow, Benjamin Kluftinger, an analyst at Citigroup in London, wrote in a report published today.

Citigroup has a ``buy'' recommendation on the stock.

Deutsche Telekom AG (DTE GY) declined 6 cents, or 0.4 percent, to 14.04 euros. Arcor AG, the German fixed-line phone unit of Vodafone Group Plc, cut prices of its combined phone and Internet packages by more than 12 percent to take on market leader Deutsche Telekom.

Separately, UniCredit Markets & Investment Banking cut its recommendation on the shares to ``hold'' from ``buy'' in a report published today.

Ersol Solar Energy AG (ES6 GY) rose 2.44 euros, or 4.2 percent, to 60.20 euros. The solar cell maker said it signed a letter of intent to source polysilicon from Russia's Nitol Group through 2012, an agreement that will help it reduce raw material costs and increase production capacity.

Jungheinrich AG (JUN3 GY) added 39 cents, or 1.2 percent, to 31.84 euros. Germany's second-largest maker of forklifts said revenue this year should rise 9 percent to more than 1.9 billion euros after an increase in orders.

Merck KgaA (MRK GY) advanced 5.28 euros, or 5.3 percent, to a record 104.09 euros. The German drugmaker that bought Serono SA said yesterday tests showed a chemotherapy it licensed from Taiho Pharmaceutical Co. works as a first-choice treatment when combined with folinic acid and the Erbitux antibody.

Merck may replace Altana AG (ALT GY) in Germany's benchmark DAX Index this month, analysts said.

``The decision on Merck's inclusion in the DAX is merely a formality,'' said Christian Stocker, an index strategist at UniCredit in Munich.

Deutsche Boerse AG, which operates the Frankfurt exchange, will announce the results of its quarterly index review after 10 p.m. in Frankfurt. The changes will take effect June 18. Altana shares climbed 23 cents, or 1.2 percent, to 19 euros.

Repower Systems AG (RPW GY) advanced 6.3 euros, or 4.6 percent, to 142.88 euros. The wind-turbine builder will join the TecDAX Index of 30 technology companies, according to Stocker. If this happened, Bechtle AG (BC8 GY), a computer and software retailer, would be the most likely candidate to exit the TecDAX, Stocker said.

Bechtle shares added 13 cents, or 0.5 percent, to 25.60 euros.

TUI AG (TUI1 GY), Europe's largest travel company, advanced 15 cents, or 0.7 percent, to 20.45 euros after the company's plan to merge its tourism unit with First Choice Holidays Plc was approved by European Union regulators.

The European Commission said yesterday its initial concern about the merger's impact in Ireland, where the companies would control more than half of the short-haul package holiday market, had been allayed by the companies' agreement to sell the ``Budget Travel'' brand.

To contact the reporter on this story: Andreas Hippin in Frankfurt at ahippin@bloomberg.net

Last Updated: June 5, 2007 06:04 EDT