Around the World's Markets: Frankfurt

Tuesday 01 September 1998 00:02 BST

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AFTER a strong start, the German Xetra DAX lost ground on yesterday afternoon as traders braced for another round of news from Russia. The index fell 114.52 points, or 2.32 per cent, to close at 4,811.28 - just before the news that the Duma had rejected Victor Chernomyrdin as prime minister.

"There is some risk that the DAX will fall back to 4,500 points because there are no support levels you can draw on between 5,000 and 4,500," Vereinsbank's Gerhard Schwarz said.

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