DAX ends trade at new high

DAX: 2817.49 (+20.46)

Germany's DAX index of 30 top shares ended bourse trade at a record closing high after the dollar raced to its highest level for a month against the deutschmark. The index closed at 2,817.49 points, up 29.46 points, just below its all-time intra-day high of 2,819.95 points reached on Tuesday.

CAC-40: 2290.31 (+19.54)

French shares were around 0.9 per cent higher, having been slightly higher at midday. Prices rose smartly during the morning as the franc fell against the dollar, boosting the outlook for French exporting companies.

Some traders were also betting there would be an end to the French lorry drivers' strike, and there was a scramble to cover short positions in the futures market ahead of a contract expiry today.

Mibtel: 10391 (+97)

Italian shares reversed early losses and rebounded to close firmer following strengthening by the lira and a strong performance by some of the bigger shares.

Domestic bonds pared losses as the lira moved above its ERM central rate.