Around the World's Markets: FRANKFURT

FRANKFURT ended the week sharply down after talks on tax reform between the government and utility companies broke down. The DAX Xetra closed down 46.7 points - 0.9 per cent - at 5,143.02.

RWE, Germany's largest utility which had threatened to move some business abroad if the government refused to back down, slid 2.95 euros - 7 per cent - to 40.7 euros. Downbeat statements from airlines British Midland and SAirGroup hit Lufthansa, which shed 0.39 euros to 22.4 euros.