Summer lull dries up trade

DAX: 2538.15 (+6.26)

A summer lull took hold of the German share market with isolated corporate news and takeover speculation providing the only sparkle.

Dealers said the market was underpinned by a firm close on Wall Street and the steady dollar. Stocks in the spotlight included giant energy and telecommunications group Veba which dropped on profit taking after releasing first half results which showed a rise of 16.8 per cent in net profit.

CAC-40:1997.42 (+0.68)

Stocks in Paris rose a slight 0.03 per cent to 1,99742, sliding back during the day after having popped over the 2,000 mark at one point.

Some 2.9 billion francs worth of stock changed hands, while the 10 year treasury bond ended the day up 0.02 per cent at 123.64.

Mibtel:9662 (+27)

Italian stocks closed slightly higher having shed early losses to regain positive ground despite a slightly lower Wall Street in a thin market with sentiment aided by a steady lira and firmer Italian bond futures.