Merger boosts market

Frankfurt Dax: 4522.81 (+82.43)The Frankfurt stock market kept pace with other markets to end at its second straight record closing high, thanks to surging pharmaceutical issues, pushed up by the announcement of the megamerger of Glaxo-Wellcome and SmithKline Beecham. Frankfurt's DAX index finished the official session at a record high close of 4522.81 points, up a strong 1.86 per cent from the previous record high close of 4440.38 points, reached last Friday.Paris CAC-40: 3187.50 (+15,36)French shares closed below a fresh all-time, intra-day high after a rally in drugs shares and financials as well as a boost from a recovery in Asian share markets, ran into technical resistance and profit-taking. But the market still recorded a fresh closing high after six days of straight gains.Milan MIBTEL: 19155 (+159)Italian shares closed positively but off their earlier highs on some fairly big last-minute selling orders. The biggest gains were in the financial sector.