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Equities gain acceptance within Germany Since the middle of last year when the DAX stood at roughly 2,500 points, the market has been the preserve of domestic investors. Foreign investors with the exception of the Telekom placement in November 1996 have been conspicuous by their absence. That the market was able to post a roughly 40% gain without the support of foreign investors under its own steam so to speak is probably unprecedented in its history. |
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