Around the World's Markets: Frankfurt

SHARP FALLS in Deutsche Telekom dragged down share prices in Frankfurt yesterday.

The electronically-traded Xetra Dax share index fell 74.69 points, or 1.53 per cent, to 4,820.42. The floor Dax ended down 1.93 per cent at 4,810.09.

Shares in Deutsche Telekom, the communications giant, tumbled 3.9 per cent to 36.20 euros after the newspaper Die Welt reported that the company expected profits to fall in 1999. One trader said: "The report adds to negative sentiment about the telecoms sector."