Around the World's Markets: Frankfurt
GERMAN shares extended Monday's falls, with a lack of direction and a weak dollar dampening buying in a market preparing for the change to the euro. The DAX closed down 0.3 per cent at 4,708.19 points. News that unemployment had risen in November also weighed heavily on the market.
Allianz tumbled 3.3 per cent on news that Deutsche Bank would issue a 1.3bn euro convertible bond exchangeable into Allianz shares, which if exercised would account for 1.6 per cent of Allianz capital.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies