Around the World's Markets: Frankfurt

Thursday 07 January 1999 00:02 GMT

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THE EXTRAORDINARY optimism generated by the success of the euro's launch continued to drive shares higher. The blue-chip Xetra DAX closed more than 3 per cent up at 5,442.90, its highest level since 21 August.

Demand for telecoms and car stocks was strong. Deutsche Telecom shares gained 6 per cent and Mannesmann touched 124.79 euros before closing 1.9 per cent up at 118.5. DaimlerChrysler rose 6.6 per cent and BMW 5.9 per cent on merger hopes.

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