Around the World's Markets: Frankfurt

GERMAN shares gained more than 1 per cent, buoyed by strong gains in key blue-chip stocks, including Deutsche Telekom. The DAX-30 closed up 1.21 per cent, or 64.33 points, at 5,400.55, although volumes were limited as Wall Street was shut for Labor Day.

Retail giant Metro gained 4.32 per cent amid merger speculation after the Carrefour/Promodes merger in France. Telekom gained 2.97 per cent, lifted by a magazine report that Deutsche Bank had offered DM3bn for the Berlin unit of Telekom's cable network.

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