Around the World's Markets: Frankfurt

THE BLUE-CHIP Xetra DAX index hovered as investors waited for clues on economic policy. The Xetra closed up 12.17 points, or 0.24 per cent, at 5,043.23 points.

Traders said market sentiment had shown an improvement since the resignation of Oskar Lafontaine. But the market was still waiting to learn about Hans Eichel, the state premier of Hesse and a pragmatic moderate. Gerhard Schroder, the Chancellor, said on Friday he would press on with radical tax reforms.