Around the World's Markets: Frankfurt

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GERMAN STOCKS edged 1 per cent lower over concern that banks could be hit by exposure to both the troubled Brazilian economy and the failed Chinese trust GITIC. The benchmark Dax Xetra closed down 70.34 points at 5,196.13, with financial stocks extending Monday's losses.

Shares in Dresdner Bank, Germany's third largest, dropped 2.10 euros to 39.50, while Deutsche Bank shed 1.68 euros to close at 53.92.