Sept. 19 (Bloomberg) -- European stocks may decline, paced by RWE AG and Siemens AG, after Germany's election failed to produce a clear winner.

``The ability to foster political reform is important for Germany's equity market,'' said Wolfram Gerdes, chief investment officer at Cominvest Asset Management in Frankfurt. ``Markets don't like uncertainty, and there is a lot of uncertainty at this point.''

September futures on France's CAC 40 Index fell 24 to 4493 at 7:46 a.m. in London. Germany's DAX Index may lose 26 to 4960 and the U.K.'s FTSE 100 Index may add 3 to 5410, according to Cantor Index, a spread-betting firm.

Deutsche Post AG, Europe's biggest 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.

Yesterday's inconclusive election in Germany may result in a coalition government between the country's two largest political parties that business leaders have said would hamper growth.

Shares of RWE AG, Europe's third-largest utility, are seen falling 4.4 percent, based on pre-market trading, according to Lang & Schwarz Wertpapierhandel AG.

Angela Merkel's Christian Democratic Union planned to scrap an agreement signed by Chancellor Gerhard Schroeder's Social Democratic 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.

Deutsche Post Acquisition

Deutsche Post, will pay 1,244 pence per Exel share, the Bonn- based company said in a statement on Regulatory News Service. That's 24 percent more than on Sept. 1, when the companies first said they were in talks. Exel, the U.K.'s largest warehouse and delivery company, closed at 1,228 pence on Sept. 16.

Crude oil for October delivery rose as much as 1.2 percent to $63.78 a barrel in after-hours trading on the New York Mercantile Exchange. Prices are 37 percent higher than a year ago. The Organization of Petroleum Exporting Countries may agree to pump as much oil as it can, reducing the group's spare capacity to cushion against any disruption in global supplies.

U.S.-traded shares of Total, Europe's third-biggest oil company, added 0.9 percent from where the stock ended in Paris.

Oil Rises

Royal Dutch Shell Plc may advance. Europe's second-largest oil company and state run Saudi Aramco plan to double the size of a joint venture refinery they operate in Port Arthur, Texas, an expansion that would be the biggest in the U.S. in at least 25 years. Shell ADRs increased 2.4 percent from where the stock ended in London.

All except two members of the Dow Jones Stoxx 50 Index, a regional equity benchmark, closed higher in the U.S. than in their home markets. The Bank of New York European ADR Index increased 1 percent.

Unilog SA, France's third-biggest computer-services company, said it agreed to be bought by European rival LogicaCMG Plc for about 931 million euros ($1.13 billion)

LogicaCMG, Europe's third-biggest computer-services provider, said on Sept. 16 that it offered 73 euros per Unilog share in an attempt to reverse losses in France and Germany.

Roche Holding AG, the world's largest maker of cancer drugs, won European regulatory approval for the potential $1 billion drug Bonviva, a once-monthly tablet for the treatment of postmenopausal osteoporosis.

The Dow Jones Industrial Average and the Standard & Poor's 500 Index on Sept. 16 advanced after President George W. Bush pledged to rebuild the Gulf Coast following Hurricane Katrina, brightening the outlook for the economy and corporate profits.

The S&P 500 and the Dow average both added 0.8 percent The Nasdaq Composite Index rose 0.7 percent.

To contact the reporter on this story: Margo Towie in Brussels at mtowie@bloomberg.net.

Last Updated: September 19, 2005 02:47 EDT