The DAX closed 2.39 per cent down at 5,189.92 points. "The 5,200-point line has to hold, otherwise it doesn't look too good," one trader said. He said any further losses today could prove damaging, especially now that the index has broken a key support level at 5,200 points. Utilities Veba and Viag fell victim to profit-taking.
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THE GERMAN stock market closed more than 2 per cent weaker as substantial losses in its most heavily weighted stock, Deutsche Telekom, and in utility Veba dragged it lower in late trade.