Frankfurt DAX: 5613.76 (+30.98)

German shares rose amid optimism that blue-chip stock, Volkswagen, will report strong earnings at its shareholders' meeting today. VW shares led the advancers, gaining 3.7 per cent, in light trading volumes. Deutsche Telekom also rose by over 3 per cent after reporting a 9 per cent increase in first-quarter profits.

Paris CAC-40: 4149.37 (+62.39)

French shares ended sharply higher as late buying sent the CAC-40 index to a record close. Positive sentiment in pharmaceutical, auto and the retail sectors were the main reasons for the positive mood, but there was some profit-taking in selective stocks.

For the time being, investors seem to be buying the theme of French growth and restructuring.

Milan Mibtel: 24014 (+182)

The Milan market closed firmer but off its highs as Wall Street dipped into negative territory. Telecoms stocks were strong after recent underperformance with Telecom Italia Mobile and Telecom Italia both firmer.