Around the World's Markets: Frankfurt

Thursday 09 September 1999 23:02 BST

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THE GERMAN economy stagnated in the second quarter and consumer prices dipped last month, reinforcing expectations that euro zone interest rates will stay on hold. GDP was unchanged from the previous quarter, when it had grown 0.4 per cent. Year-on-year GDP grew 1 per cent.

The Finance Ministry blamed weak global demand and one-offs such as the timing of the Easter holiday and oil purchases brought forward to avoid energy tax rises.

The DAX-30 closed up 0.38 per cent, or 20.64 points, at 5,421.34.

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