EQUITIES as a percentage of any Portfolio

FRANKFURT (AFX) - Shares closed higher in an abbreviated session led by MAN
and Lufthansa with tech stocks also attracting investors after overnight gains
made by US technology prices, dealers said.
The DAX 30 index closed up 8.33 points or 0.20 pct at 4,256.08, having moved
between 4,251.06-4,261.96 points during the session.
The MDAX was at 5,375.74, up 31.81 points or 0.60 pct, while the TecDAX was
at 519.99, down 1.03 points or 0.20 pct.
The DAX futures was at 4,273.5, down 1.0 points or 0.02 pct, while the bund
futures was at 118.36, up 0.21.
The euro last traded at 1.3602 usd after 1.3618 in midmorning London trade.
Dealers said trading was relatively thin with the markets closing at 2.00 pm
local time and not reopening until Jan 3. Infineon, Siemens and Deutsche Telekom
were the most actively traded stocks.
Telekom was up 0.05 or 0.30 pct to 16.65, Infineon was up 0.03 eur or 0.38
pct to 7.95 eur while Siemens was up 0.14 or 0.22 pct at 62.38.
Siemens chief executive Heinrich von Pierer said he hopes to be able to
comment on the future of the company's loss-making mobile telephone business at
the AGM scheduled for Jan 27, according to an interview with Handelsblatt.
MAN was the top performer overall, climbing 0.42 eur or 1.50 pct to 28.34,
followed closely by Lufthansa which rose 0.14 eur or 1.34 pct to 10.55 despite
denying a report in Boersen-Zeitung that a consortium of Carlyle and CVC has
lodged a 8.25 eur per share bid for stakes in Amadeus Global Travel Distribution
SA, whose shareholders include Lufthansa, Iberia and Air France.
Continental rose 0.28 or 0.60 pct at 46.73, after the extraordinary general
meeting of Phoenix this week had agreed to merge Phoenix with Continental's
ContiTech.
SAP, down 0.44 or 0.33 pct at 131.40 was the biggest loser on profit-taking
following recent gains.
On the MDAX, Aareal Bank was ahead among advancers, gaining 0.96 eur or 4.10
pct at 24.38. Fielmann lost 0.84 or 1.59 pct at 52.00
alfred.kueppers@afxnews.com
amk/cml