German Stocks Rise for First Time in Three Days

German stocks rose for the first time in three days, with the benchmark DAX (DAX) Index rebounding from a weekly loss, as shares of automakers rallied.

Continental AG and Daimler AG each climbed at least 1.4 percent. Siemens AG (SIE) advanced 1.4 percent after saying it will replace Chief Executive Officer Peter Loescher. Commerzbank AG (CBK) led banks lower, falling 2.3 percent.

The DAX gained 0.8 percent to 8,310.11 at 9:48 a.m. in Frankfurt. The gauge retreated 1 percent last week as some companies posted worse-than-estimated results. The broader HDAX Index added 0.8 percent today.

In the U.S., a report at 10 a.m. New York time may show pending home sales slipped 1 percent in June, after climbing 6.7 percent the previous month, according to the median forecast of 34 economists in a Bloomberg survey.

To contact the reporter on this story: Tom Stoukas in Athens at astoukas@bloomberg.net

To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net

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