Around the World's Markets: Frankfurt

THE CO-ORDINATED interest rate cut by countries participating in the European Single Currency gave European markets a boost yesterday, with the DAX finishing at 4,812, a 2 per cent rise on the day.

The rally was led by banking shares, with Deutsche Bank rising 3 per cent to close at 99 marks. Deutsche Telekom rose by 3 per to end the day at 49 marks.

"This is a good buying opportunity, and I think the rate cut was sensible in the light of a slowing European economy," one dealer commented.