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 FRANKFURT, Germany (AP) - Shares of DaimlerChrysler AG rose Wednesday while those of EADS dropped after the automaker and Lagardere SCA announced they were scaling back their stakes in the aeronautics and defense company.
The move signals a push by DaimlerChrysler to focus on building automobiles, but the company said it had not yet decided how it would invest the expected gain or if the money would go toward financing its restructuring efforts at Mercedes Car Group.
In trading in Frankfurt, DaimlerChrysler shares rose as much as 2.5 percent before settling at 48.92 euros ($59.60), or up nearly 1.9 percent. DaimlerChrysler shares traded in the U.S. rose 95 cents, or 1.6 percent, to finish at $60.04 on the New York Stock Exchange.
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