Around the World's Markets: Frankfurt

GROWING HOPES that the European Central Bank will cut rates tomorrow helped Frankfurt shares gain more than 2 per cent. The electronically traded Xetra Dax index ended up 120.46 points, or 2.46 per cent, at 5,022.27, while the floor Dax gained 1.03 per cent to close at 4,965.29.

Mannesmann, the telecoms and engineering group, was among the biggest climbers following its pounds 750m purchase of the fixed-line telecoms business Otelo from the German utilities Veba and RWE.