Markets Report - Europe

Frankfurt DAX: 4,152.86 (-78.57)

Frankfurt DAX: 4,152.86 (-78.57)

German shares took a severe beating as investors pocketed profits and raised questions over the future of the recent bull run.

Frankfurt's computerised IBIS DAX index plunged over 3 per cent to 4077.59. On a day when most European markets were closed for the Assumption holiday, the nose-dive took most traders by surprise.

It was triggered by opening losses of 1.25 per cent on Wall Street sparked of weakness in the bond market and earnings' woes.

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Sliding futures, the weakening dollar and Wall Street's dramatic drop pushed the IBIS index down by 127.89 points to 4067.64 before recovering slightly.

Paris - Market Closed

Milan - Market closed