Around the World's Markets: Frankfurt

FRANCE'S BLUE chips motored to their tenth consecutive closing high, led by merger buzz around telecoms stocks and a raft of strong company results.

The CAC-40 closed up 1.59 per cent at 5132.08, an all-time high. With many operators away for the Armistice Day holiday, some were alarmed at the CAC's headlong rush to new highs. Vivendi surged 3.36 per cent on the latest telecoms merger speculation. One report cited Mannesmann, BT and Vodafone Airtouch as suitors.