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Around the World's Markets: Frankfurt

THE XETRA-DAX index reversed early gains in afternoon trade, pulled down 1 per cent by a technical fall in the heavyweight Deutsche Telekom and the knock-on effect of a lower start on Wall Street.

The DAX closed down 1.32 per cent, or 71.51 points, at 5,327.60.

Deutsche Telekom fell 3.68 per cent to 42.38 euros after recent gains in the run-up to its increased weighting on the DAX to 13 per cent from 5.62 per cent.