Around The World's Markets: Frankfurt

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DESPITE LOWER volumes in the run-up to the euro, and the bearish tone that has thwarted the market over the last month, German shares staged a rally yesterday, with the benchmark Dax index ending the day up 1 per cent at 4,732.

Veba, Germany's largest utility, slipped 2 per cent, with traders unconvinced that its five-year DM31bn investment is sufficient to stave off competition from European peers, and boost profitability.