European equities ended little changed after another low-volume session. Paris mirrored the broad trend, closing at 4,071.28, up 20.48 and 21 points short of the day's best level.
Pinault-Printemps, a dull market in recent weeks on talk of dwindling sales growth, shot ahead after 1998 sales figures showing solid gains in like-for-like turnover. The shares gained €8 at €156.
Michelin also showed an unexpected turn of speed, advancing #2.05 to #32.85 after a press report suggested the tyre leader was to forge an important alliance with a Japanese tyre giant.
Saint-Gobain rose €8.90 or €8 per cent to €120.50 ahead of tomorrow's results statement. It was said to have gained from switching out of Pilkington because of the British glassmaker's Latin America exposure.
Cap Gemini added €1.40 at €158.40 after an upgrade to "buy" at Rabobank. An upbeat trading statement from STMicroelectronics gave little support and it dipped 10 cents at €81.40.
LVMH, buoyed lately by acquisition news, notably a large stake in Italian fashion house Gucci, gained €6.50 at €207 following a better-than-expected sales statement.
Banks and oils stood out as weak features.
Frankfurt climbed back above the 5,000 level on the Xetra DAX index, adding 12.60 at 5,001.19. Motors were mixed with the sector caught between a forecast of low German car registrations this year from the FAW research institute and an upgrade for Volkswagen at Morgan Stanley.
BMW shed €11 at €601. VW, raised to "outperform" from "neutral" by the US broker, added €1.54 at €68.35 and DaimlerChrysler gained 65 cents at €88.85.
Software leader SAP was a firm feature, gaining €19 at €353.50. MAN ended at the other end of the performance charts, losing €5.75 to €224.25.
Amsterdam ended modestly higher, with most of the day's honours going to DSM and the publishing sector. The AEX index added 1.28 at 526.64.
DSM rose €3.10 to €75.50, while media stocks saw strong gains of more than 7 per cent for both VNU and Elsevier, which jumped €2.60 to €38 and 90 cents to €13.35 respectively.
Milan held up better than most west European markets, ending almost 1 per cent higher amid continued enthusiasm for stocks with Internet interests.
The Mibtel index rose 189 to 23,146 on a day of low trading volume. Internet beneficiaries included Class Editori, the media company, and Cofide, the holding group, which were both suspended limit up for a second day.
