Around the World's Markets: Frankfurt

GERMAN share prices closed marginally lower, with the Xetra Dax down 4.49 at 5,291.52 after trading in a narrow range.

Turnover in telecommunications stocks was high but Deutsche Telekom closed fractionally down after the chief financial officer said it was seeking Asian partnerships and would be prepared to increase its stake in Global One if France Telecom pulls out. Automotive stocks were slightly higher, with DaimlerChrysler, VW and BMW better on the day.