Around the World's Markets: Frankfurt

THE ELECTRONICALLY traded Xetra DAX ended up 0.66 per cent at 5,167.5, still buoyed by last week's interest-rate cut.

Gains in Deutsche Telekom ahead of its results on Thursday helped counter a sharp fall in Deutsche Bank shares. Telecoms group Mannesmann rose 2.6 per cent on the back of Olivetti's bid for Telecom Italia; the Italian electronics company plans to sell its stakes in two Italian phone companies, leaving Mannesmann with majority stakes.