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Around the World's Markets: Frankfurt

THE BLUE-CHIP Xetra Dax closed down 0.73 per cent at 5,025.8, just above the psychologically important 5,000 point level, amid light trade and uncertainty ahead of option expires today.

Deutsche Bank led the decliners, falling over 3 per cent after it announced a larger than expected capital increase to fund its Banker's Trust acquisition, while Dresdner Bank fell 1.8 per cent on profit taking after its recent rise on the back of its French partner BNP's bid for SocGen and Paribas.