Sept. 19 (Bloomberg) -- The following stocks may make gains or losses in German markets.

The nation's benchmark DAX Index might slump 121.5 to 4865, according to Deutsche Bank AG at 8:02 a.m. in Frankfurt. Angela Merkel's Christian Democratic Union and her allies, the Free Democratic Party, unexpectedly failed to win a majority in yesterday's election.

``We're seeing heavy trading,'' said Veith Curtius, a trader at Lang & Schwarz Wertpapierhandel AG in Dusseldorf. ``Everything is falling.''

Futures that track the DAX climbed 2 percent to 5020.50 at the close of trading Sept. 16 on Eurex AG, the world's biggest futures market. The DAX gained 1.6 percent to 4986.5 on the Xetra electronic-trading system.

Stock symbols are in parentheses after the company names and prices are from the Xetra close unless otherwise stated.

Allianz AG (ALV GY): Europe's biggest insurer announced a reorganization of its German insurance businesses and will combine their sales divisions into a separate unit. The shares rose 1.49 euros, or 1.4 percent, to 107 euros.

AWD Holding AG (AWD GY): Chief Executive Carsten Maschmeyer told Tagespiegel his family would block any ``unfriendly'' takeover bid for the financial-services broker. Maschmeyer also told the paper he expects AWD's revenue will develop better than those of German competitors this year, helped by a 150 percent increase in sales of equity funds. The shares slipped 29 cents, or 0.9 percent, to 33.70 euros.

Bayer AG (BAY GY): The inventor of aspirin may consider selling its diagnostics business if it succeeds in buying Boots Group Plc's consumer-health unit, the Financial Times Deutschland said. Bayer spokesman Guenter Forneck declined to comment on the report. The shares added 79 cents, or 2.6 percent, to 30.74 euros.

Continental AG (CON GY): Chief Executive Manfred Wennemer told Die Welt the German tiremaker will consider splitting its stock after the share price rose to a record last week.

DaimlerChrysler AG (DCX GY): Dieter Zetsche, who is set to become chief executive of the world's fifth-largest carmaker in January, is seeking ways to cut costs beyond measures already planned, Euro am Sonntag reported. The shares added 92 cents, or 2.2 percent, to 42 euros.

Deutsche Boerse AG (DB1 GY): Shareholders of Euronext NV, including Harris Associates of Chicago, are urging the Amsterdam- based exchange to consider a merger with Germany's Deutsche Boerse, the Wall Street Journal said today, citing Harris' chief international investment officer, David Herro. Shares of Deutsche Boerse, Europe's largest stock exchange, rose 1.22 euros, or 1.6 percent, to 76.36 euros.

Deutsche Post AG (DPW GY): Europe's largest postal service agreed to buy the U.K.'s Exel Plc for 3.7 billion pounds ($6.7 billion) in cash and stock to expand its ability to manage supply chains for customers around the world. The shares rose 54 cents, or 2.8 percent, to 19.98 euros.

E.ON AG (EOA GY): Shares of Europe's second-largest utility may fall as much as 3.3 percent based on pre-market trading, according to Lang & Schwarz.

The CDU's Merkel planned to scrap an agreement signed by Chancellor Gerhard Schroeder's government with utilities in 2000 to phase out nuclear power over the next 20 years. The utilities can generate power at their nuclear plants for a fifth of what it costs at hard-coal or natural gas-fired power stations. Shares of RWE AG are seen falling 4.4 percent, Lang & Schwarz said. Separately, RWE, Europe's third-largest utility, said it will spend 2.2 billion euros ($2.7 billon) on a new power station in Germany, its biggest investment in a plant.

Salzgitter AG (SZG GY): Wolfgang Leese, the chief executive Germany's second-biggest steelmaker, told the Financial Times Deutschland he is ``very optimistic'' about winning a contract to provide steel pipe for a planned pipeline between Germany and Russia. He also said he doubts a hostile takeover of Salzgitter would be able to succeed. The shares fell 1.14 euros, or 3 percent, to 36.36 euros.

Siemens AG (SIE GY): Germany's biggest engineering company plans to eliminate 4,224 jobs within one and a half years at its communications business, including 2,860 in Germany, Manager Magazin said, without citing anyone. Spokeswoman Maria Lahaye- Geusen declined to comment. The shares gained 99 cents, or 1.6 percent, to 63.90 euros.

ThyssenKrupp AG (TKA GY): Germany's largest steelmaker plans to team up with European Aeronautic, Defence & Space Co. to buy Atlas Elektronik GmbH, a German maker of electronics systems for submarines, the Frankfurter Allgemeine Zeitung said. The shares added 29 cents, or 1.8 percent, to 16.44 euros.

Volkswagen AG (VOW GY): Chief Executive Bernd Pischetsrieder told the Sueddeutsche Zeitung the carmaker should reduce investments to help cut costs. Separately, Volkswagen's Audi division will introduce a convertible version of its A3 model by about 2008, unit chief Martin Winterkorn told the Frankfurter Allgemeine Sonntagszeitung. The shares climbed 1.33 euros, or 3 percent, to 45.85 euros.

To contact the reporter on this story: David Scheer in Frankfurt at dscheer@bloomberg.net; Chris Fournier in Frankfurt at Cfournier3@bloomberg.net

Last Updated: September 19, 2005 02:39 EDT