MARKET REPORT - EUROPE

Frankfurt Dax 2520.19 (+13.97)

The German blue chip IBIS DAX index ended a turbulent week below the psychologically crucial 2500 point index, with prices falling after the expiry of options and futures, which had kept prices artificially high.

Paris CAC-40 1992.83 (-14.43)

French shares closed lower, falling back below the key 2,000 level, as a drop on Wall Street and heavy foreign selling erased early gains. The bourse had been in an euphoric mood after the US Federal Reserve chairman, Mr Alan Greenspan, eased concerns about an overheating US economy.

Milan MIBTEL 9913 (-27)

Italian shares reversed early gains to close lower as Wall Street's jittery start.