Around the World's Markets: Frankfurt

GERMANY'S market hovered below par in light trade, awaiting the outcome of the meeting on US interest rates. The DAX-30 closed 22 points, 0.42 per cent, lower at 5,324.02 points. "Everybody's waiting to see what direction US rates are going," one trader said.

Utilities stocks RWE and Veba gained amid consolidation rumours. RWE rose by 4.2 per cent and Veba by 1 per cent. Viag fell 1.7 per cent amid profit taking after recent gains on speculation that it is in merger talks with Veba.