Around the World's Markets: Frankfurt

Friday 24 December 1999 00:02 GMT

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FINANCIAL STOCKS soared on news of a government proposal to eliminate taxes on the sale of shareholdings between firms, which could help reshape Germany's corporate landscape.

The blue chip DAX-30 index leapt to a record 6,782.39, up over 289.86 points or 4.46 per cent, after the markets woke up to the proposal, delivered by the Finance Minister Hans Eichel on Tuesday. Insurers Munich Re and Allianz, and Deutsche Bank, led the gainers.

German tax reforms, page 13

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