Aug. 31 (Bloomberg) -- German stocks slipped, led by Infineon Technologies AG and Bayer AG. Shares of Aareal Bank AG fell 32 percent after its Chief Executive Officer Karl-Heinz Glauner quit.

The benchmark DAX Index shed 35.72, or 0.9 percent, to 3803.13 as of 10:01 a.m. in Frankfurt. The HDAX Index of the country's 110 biggest companies lost 1 percent to 1945.18. DAX September futures slid 0.8 percent to 3810.

Infineon, Europe's second-largest chipmaker, fell for a second day. The Philadelphia Semiconductor Index, which includes Intel and 17 other chip-related stocks, fell 2.3 percent to 373.64 yesterday. The index has lost 27 percent so far this year.

Technology and banking stocks were the worst performers among the 18 industry groups on Germany's Prime All Share Performance Index, which tracks 377 companies listed on Deutsche Boerse AG's main Prime Standard market. The indexes fell 2 percent and 1.7 percent, respectively.

The following stocks are making gains or losses today. Stock symbols are in parentheses after the company names.

Aareal Bank AG (ARL GY), the property lender, plunged 8.9 euros, or 31 percent, to 19.89 euros after it said it will incur an additional 276.6 million euros ($333.3 million) in provisions for loan losses after the BaFin financial-services regulator completed a probe into its valuation of some overdue loans. Aareal said last night its Chief Executive Officer Karl- Heinz Glauner had resigned effective from today. The probe will lead the bank to report a 2004 loss of 100 million euros.

Bayer AG (BAY GY), Germany's second-biggest drug and chemical maker, fell 52 cents, or 2.4 percent, to 21 euros after saying second-quarter profit was unchanged as raw materials costs increased and the Cipro antibiotic lost sales to generic competition. The company said second-quarter net income was 128 million euros, less than the median estimate of 175 million euros in a Bloomberg News survey of 17 analysts. Sales gained 4.5 percent to 7.58 billion euros.

Bayerische Motoren Werke AG (BMW GY), The world's second- biggest maker of luxury cars, fell 36 cents, or 1 percent, to 33.95 euros. The company is adding jobs and using flexible work rules to build cars without demanding the longer hours or pay cuts sought by some of its German competitors, said Chief Executive Officer Helmut Panke.

E.ON AG (EOA GY): Germany's second-largest electricity producer, gained 9 cents, or 0.2 percent, to 58.91 euros. The company and other German utilities may raise household electricity prices as the unstable flow of wind power in their networks forces them to buy more expensive energy.

GPC Biotech AG (GPC GY), a biotechnology company, added 61 cents, or 6.4 percent, to 10.19 euros. The company will hold its annual shareholders meeting after saying on Aug. 5 its second- quarter loss widened as alliances with some companies ended and sales fell 50 percent.

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

Last Updated: August 31, 2004 04:32 EDT