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Around the World's Markets: Frankfurt

GERMAN stocks fell for a second successive day, with weak first quarter corporate earnings dragging down the main indices. The electronic Xetra Dax dropped 29.66 points, or 0.55 per cent, to 5,323.06. The floor Dax closed 0.27 per cent lower at 5,334.42.

Among companies reporting disappointing earnings were the chemicals group Hoechst, which fell 3.3 per cent to 42.5 euros, and the airline Lufthansa, which said pre-tax profit in 1999 was likely to be lower than in 1998.