Around the World's Markets: Frankfurt

Monday 27 September 1999 23:02 BST

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SHARES CLOSED 1 per cent stronger, buoyed by gains on Wall Street as bargain-hunters stepped in to snap up US stocks after last week's declines. The DAX-30 ended 1.02 per cent stronger at 5,239.64.

"The DAX was unlikely to reverse its consolidation trend while rate hike worries abounded ahead of the Fed's meeting next week," said one analyst.

Shares in utilities Viag and Veba moved sharply after announcing a widely expected 13.5bn euro merger.

"The DAX was unlikely to reverse its consolidation trend while rate hike worries abounded ahead of the Fed's meeting next week," said one analyst.

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