Around the World's Markets: Frankfurt

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The Independent Online
GERMAN SHARES lost value as dealers responded to the sudden fall in stocks on Wall Street following the unexpectedly large US trade deficit. The DAX-30 index closed down 0.83 per cent at 5,186.85.

"The market is heading south in the next few days," one trader said, predicting it could drop to around 5,100 points. Two utilities, Viag and Veba, stole the limelight, gaining more than 4 per cent and 1 per cent respectively on speculation they are poised to merge.