Frankfurt stages a late rally

 

Frankfurt Dax: 3834.82 (+1.35)

German shares mounted a late Dow-inspired rally to close higher after spending most of the day largely static in thin trade. A firmer dollar, which boosts German shares as exports become cheaper, helped the market overcome early losses caused by a 3.3 per cent drop in Japan's Nikkei index.

The IBIS DAX index, which reflects all-day computer trade, managed to post further gains after the bourse close, lifted by an advance on Wall Street and closed on 3876.90.

Paris CAC-40: 2790.56 (+7.95)

Paris was flat for most of the day but managed to close with marginal gains. "It's a very volatile market. We change directions 10 times a day," a French trader said.

Milan MIBTEL: 15087 (-19)

Italian shares closed on the day's high, boosted by the upturn on Wall Street. Action in the market was dominated by one or two stocks driven higher by market rumours.