Frankfurt, Paris see new highs

Dax: 3033.46 (+4.79)

The Frankfurt stock market eked out a small gain that was enough to take the DAX index to a new record closing high. Traders gave no particular reasons for the rise, except that the dollar remains at high levels against the deutschmark and the bourse is generally optimistic these days.

CAC-40:2461.25 (+18.79)

The Paris Bourse ploughed ahead in active trading to close at a new record high just one session before the end of the January trading month. The Bourse now sports a hefty gain of 7.60 per cent for the last four weeks. The market was hit by a spot of profit taking early in the session, but shrugged that off.

Mibtel: 12653 (+222)

The Milan market stayed on a strong uptrend, overcoming a slow start to surge by 1.79 per cent on the day as the Mibtel index tacked on 222 points to end at 12,653. Volume approached the record of 2.6 trillion lire (£1 billion).