Around the World's Markets: Frankfurt

Friday 19 February 1999 00:02 GMT

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SHARES closed up more than 1 per cent, buoyed by gains on Wall Street and a big wage agreement. The electronic Xetra DAX ended up 1.05 per cent, or 50.67 points, at 4,871.09. The floor DAX gained 0.73 per cent to close at 4,845.08.

News that a major strike had been averted by a last-minute settlement cheered investors. IG Metall, representing the metal and engineering industry, decided against action after regional arbitration. Economists warned that the higher-than-expected pay rise could fuel inflation.

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