Around the World's Markets: Frankfurt

THE DAX index reversed some of last week's fall, ending almost 1 per cent firmer at 5,351.98. The market shrugged off a defeat for Chancellor Gerhard Schroeder's Social Democrats in a regional election. The result was not expected to have a direct impact on Schroeder's chances of passing his $16bn spending cut programme.

HypoVereinsbank and Dresdner Bank were among top decliners, following a buying spree ahead of their inclusion in the Euro STOXX 50 last week.