Around the World's Markets: FRANKFURT

Thursday 03 September 1998 23:02 BST

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SHARES closed more than 3 per cent lower in thin late trading. Sharp falls in the rouble and reports that a trade union wants a 4 per cent wage rise added to uncertainty. The Xetra DAX closed at 4,797.13, down 151.38.

US brokers were also revising down their estimates of German GDP growth next year. One trader estimated the revision to comprise "3 to 4 percentage points". Banks were down: Deutsche lost 4.71 per cent and Dresdner 6.7 per cent.

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Around the World's Markets: FRANKFURT

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