Around the World's Markets: Frankfurt

GERMAN SHARES gave up strong early gains after a disappointing start on Wall Street. The electronic Xetra Dax closed up around half a percentage point at 4896.74, having been more than 2 per cent higher earlier in the day. The floor Dax finished 1 per cent higher at 4,888.74.

Deutsche Telekom was the most actively traded stock, ending up more than 5 per cent higher. The gains were triggered by the decision by the German telecoms regulator to raise the price at which Deutsche Telekom is allowed to rent local phone lines to rivals.