Around the World's Markets: Frankfurt

GERMAN SHARES slumped yesterday, in line with other European exchanges, with BMW and Deutsche Bank leading the way. The DAX Index finished the day down 1.4 per cent at 4,712.

BMW dropped 4 per cent after it was announced that Rover's chief executive Walter Hasselkus would be sacked, and that a further pounds 2bn would be invested in the loss-making Rover group. Deutsche Bank, which announced the DM1bn acquisition of Credit Lyonnais' Belgian operation on Tuesday, fell 4 per cent.