Jan. 30 (Bloomberg) -- German stocks rose. The benchmark DAX Index gained for a third day in four, led by shares of Deutsche Lufthansa AG, TUI AG and Infineon Technologies AG.

The benchmark DAX Index added 11.08 points, or 0.3 percent, to 4106.79 at 10:44 a.m. in Frankfurt. Twenty stocks rose, 10 declined. DAX March futures climbed 0.5 percent to 4122 points. The HDAX Index of the country's 110 biggest companies rose 7.02 points, or 0.3 percent, to 2088.58 points.

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

Aareal Bank AG (ARL GY) fell 60 cents, or 2.3 percent, to 25.60 euros after HypoVereinsbank Research cut its recommendation on the shares to ``neutral'' from ``outperform.''

Concord Effekten AG (CEF GR) increased 10 cents, or 2.7 percent, to 3.79 euros after the stockbroker and investment bank said it's considering listing its Concord Financial Intermediary GmbH unit in the first half to help finance the business's growth.

Deutsche Lufthansa AG (LHA GY), Europe's third-biggest airline, rose 28 cents, or 2 percent, to 14.60 euros. Juergen Pieper, an analyst at Bankhaus Metzler, said the shares are rising for the first time in five days in reaction to ``a weak few days, caused by concerns over bird flu and Ryanair'' Holdings Plc., which gave a profit warning this week.

Separately, the Association of European Airlines late yesterday said its 31 members, which include Lufthansa, may collectively report their first profit since 1998 this year. Carriers will also be helped by a 7.5 percent gain in passenger traffic, the group said.

TUI AG (TUI GY), Europe's biggest travel company, rose 24 cents, or 1.3 percent, to 19.09 euros.

EM.TV & Merchandising AG (ETV GY) fell 3 cents, or 2.7 percent, to 1.08 euros after the company struggling to survive after buying the Muppets and a stake in Formula One extended a deadline for bondholders to Feb. 13 after it failed to win sufficient backing from them for a plan to restructure its debt.

Infineon Technologies AG (IFX GY) gained 22 cents, or 1.9 percent, to 11.91 euros. Handelsblatt said Europe's second- biggest semiconductor maker contacted nine possible investors on the planned sale of its unprofitable fiber-optics business, which generates sales of about 150 million euros.

Norddeutsche Affinerie AG (NDA GY) fell 13 cents, or 1.3 percent, to 9.67 euros after Europe's largest copper producer said its net loss in its fiscal first quarter was 14 cents per share after earnings per share of 10 cents in the year-ago period. The company added that the outlook for 2004 is ``quite good.''

Puma AG (PUM GY) rose 3.05 euros, or 2.2 percent, to 145.05 euros after Europe's third-largest sporting-goods maker said earnings more than doubled for a second year. Net income gained to 179 million euros in 2003 from 85 million euros a year earlier. Analysts had forecast profit of 170 million euros.

SAP Systems Integration AG (SSI GY) rose 23 cents, or 1.5 percent, to 15.43 euros after the software consultant controlled by SAP AG said fourth-quarter profit rose 20 percent and forecast sales will gain as much as 12 percent this year.

Net income rose to 8.9 million euros from 7.4 million euros a year earlier, spokesman Stephan Kahlhoefer said. Revenue gained to 79.3 million euros from 74 million euros a year ago. The results were higher than the median forecasts of analysts surveyed by Bloomberg News.

Technotrans AG (TTR GY) fell 1.52 euros, or 10 percent, to 13.70. The maker of printing-machine systems dropped after Baldwin Technology Co., which makes printing equipment, terminated an agreement to be bought by the German company.

Last Updated: January 30, 2004 04:48 EST