German Stocks Advance, Led by MAN on Earnings; DaimlerChrysler, BMW Rise

(Bloomberg) -- Germany's benchmark DAX Index rose,
heading for the biggest one-day gain in more than two weeks. MAN
AG shares paced the advance after Europe's third-largest
truckmaker reported its 16th consecutive profit increase.

Shares of DaimlerChrysler AG and Bayerische Motoren Werke
AG, the world's biggest luxury carmakers, also climbed.


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German Stocks Advance; Deutsche Bank, MAN AG, DaimlerChrysler Lead Gains

(Bloomberg) -- German stocks advanced, led by
Deutsche Bank AG, MAN AG and DaimlerChrysler AG.

The benchmark DAX Index added 92.86, or 1.3 percent, to
7549.17 as of 9:10 a.m. in Frankfurt. The HDAX Index of the
country's 110 biggest companies climbed 1.3 percent.


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U.S. credit market sells off on pulled financings

(Reuters) - Spooked by pulled financings for the buyouts of DaimlerChrysler AG's Chrysler and Alliance Boots, investors scrambled out of riskier bonds, with the brokerage sector and junk bonds taking the worst hits, traders said.




In the junk bond market, buyers vanished and actively traded bonds went into free fall, with some benchmark auto bonds down five points on the day.


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EU approves Cerberus purchase of Chrysler

(Reuters) - DaimlerChrysler agreed in May to sell most of its stake in the money-losing Chrysler Group and its related financial services business to Cerberus.




The deal, which is expected to close in the third quarter, still needs approval from the U.S. authorities.


Read more at Reuters.com Government Filings News

European Stocks Advance in Quarter; DaimlerChrysler, LVMH, Swatch Rise

(Bloomberg) -- European stocks rose, posting a
fourth consecutive quarterly advance, after reports in the U.S.
signaled the world's biggest economy will keep growing without
stoking inflation.

DaimlerChrysler AG and LVMH Moet Hennessy Louis Vuitton SA
led gains today by companies most dependent on the U.S. for
sales. Swatch Group AG rallied after Deutsche Bank AG recommended
buying shares in the watchmaker because revenue and profit
margins may increase. Total SA and Royal Dutch Shell Plc rose as
oil climbed to a 10-month high.


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Senate close to deal on auto fuel efficiency

(Reuters) - Negotiators haggled over final details of an agreement based on a bi-partisan proposal that still left automakers and their allies in Congress dissatisfied, according to lawmakers familiar with the talks.




Struggling General Motors Corp., Ford Motor Co., and DaimlerChrysler AG's Chrysler Group lobbied fiercely for compromise legislation that would reform the 30-year-old Corporate Average Fuel Economy, or CAFE, program.


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Chrysler wants to boost presence in Russia: report

(Reuters) - Chrysler was currently talking about possible partnerships with Russian companies, the report said.




The U.S. car company is looking for worldwide business opportunities, having been put up for sale by its parent DaimlerChrysler after an unsuccessful nine-year partnership.


Read more at Reuters.com Business News