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Around the World's Markets: Frankfurt

GERMAN SHARES fell by more than 2 per cent, with mixed corporate earnings and fears of a US rate rise weighing on sentiment. The electronically- traded Xetra Dax closed down 124.89 points, or 2.55 per cent, at 4,779.07. The floor Dax fell 2.6 per cent to 4,784.31 points. Deutsche Telekom was the only large-cap gainer following speculation about new investment overseas.

Meanwhile, the German business community continued to protest at planned tax reforms.