Around the World's Markets: Frankfurt

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STOCKS EASED slightly as traders took profits following the US interest rate cut. The Xetra DAX closed down 17.65 points, or 0.37 per cent, after a weak opening on Wall Street.

Shares in Deutsche Telekom fell 3.2 per cent after chairman Ron Sommer said earnings in 1999 would be threatened by a price war in the telecoms sector.

Shares in banks, which rose earlier this week, stayed high following the rate cut, except for Commerzbank which fell by 1.6 per cent on profit- taking.