Around the World's Markets: Frankfurt

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PROFIT-TAKING and jitters over Brazil's ability to make its debt repayments left the benchmark Xetra DAX more than 1 per cent down, closing at 5,345. The floor-traded DAX closed 2 per cent off at 5,323.2.

Most large caps fell, with some of the smaller blue chips, such as engineering group Linde, falling by around 7 per cent. Software giant SAP rose almost 2 per cent on bargain hunters after its 15 per cent fall on Tuesday. Dresdner Bank extended its gains after spinning off DM25bn of non-bank holdings.