Around the World's Markets: Frankfurt

THE BENCHMARK Xetra DAX index closed down 18.41 points, or 0.43 per cent, at 4,253.12 points after a volatile session driven by wild swings in the dollar and uncertainty about New York shares. The floor-traded DAX ended 1.16 per cent higher at 4,274.48 points.

Drug-maker Schering recovered some ground lost in early trading after the company said that the dollar's current weakness could push its 1998 profits below expectations and reduce its growth next year.