Around the World's Markets: Frankfurt

Monday 26 July 1999 23:02 BST

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FRANKFURT

GERMAN SHARES dropped about 2 per cent as the continued revival in the euro combined with a lower start on Wall Street to extend a correction after the market's climb to fresh year-highs earlier this month.

The DAX ended down 1.96 per cent at 5,206.44. Strength in the euro, which makes European exports less affordable abroad, overwhelmed speculation in the telecoms sector, where there was fresh talk of Deutsche Telekom teaming up with Spain's Telefonica.

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