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DAX Rises Amid Bank Merger Talk

German stocks rose on Monday as media reports suggesting that Deutsche Bank has begun tentative merger talks with rival Commerzbank helped investors shrug off global growth worries.

The benchmark DAX was up 17 points or 0.15 percent at 11,475 in opening deals after declining half a percent on Friday.

Deutsche Bank jumped 3 percent amid reports that its top executives have agreed to hold discussions with rival Commerzbank AG about a potential merger. Commerzbank shares rallied 4.2 percent.

In economic releases, Germany's industrial production unexpectedly decreased in January while exports were unchanged, underpinned mainly by demand from outside the European Union, preliminary data showed.

Industrial production decreased 0.8 percent month-on-month in January, while economists had predicted a 0.5 percent gain.

A 9.2 percent slump in the automobile industry influenced the January outcome, the Economy Ministry said.

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