Buoyant day for Frankfurt

Dax: 3383.25 (+29.80)

German shares posted the sole buoyant performance among major European markets, with the IBIS index finishing over 0.4 per cent higher.

A weaker-than-expected March business sentiment report and absence of underlying inflationary concerns underpinned the market, but sentiment remained mixed and Frankfurt dealers said investors did not want to commit to large new positions.

CAC-40: 2615.18 (-5.79)

French stocks turned negative on the back of Wall Street's decline and a weak domestic bond market, reversing earlier half-a-per cent gains to close 0.22 percent lower.

Rumours of a government shake-up or dissolution of parliament and concerns about the country's 1997 budget deficit also put pressure on shares.

Mibtel: 12332 (-40)

Italian shares closed lower after comments on EMU by Bundesbank president Mr Hans Tietmeyer pushed bonds lower and were seized on as an excuse to take profits on stocks after a week of solid gains.