Around the World's Markets: Frankfurt

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The Independent Online
SHARES CLOSED higher amid expectations of a US rate cut and talk of mergers in the chemical sector. The Xetra DAX closed at 4,785.76, up 141.96 while the DAX ended the floor session up 144.12 at 4,783.77.

Traders said the German market, which normally weakens when the US dollar falls, held up despite easing against the dollar. "This perhaps shows the market has stabilised," said one. Chemicals led gainers on reports that Hoechst and Rhone-Poulenc will merge.

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