Investors in Europe take gains

Dax: 2509.71 (-20.31)

Dax: 2509.71 (-20.31)

German shares ended sharply lower yesterday as profit taking eroded recent strong gains after an overnight slide on Wall Street.

Dealers said a strong dollar helped underpin the Dax, keeping it above the important 2,500 level and beating off the negative effect of weaker German debt prices.

CAC-40: 2072.52 (-21.42)

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After reaching its highest level since August 1994 on Wednesday, the Paris Bourse was hit by a bout of weakness yesterday despite the Bank of France's 0.10 per cent reduction of its key tender rate.

Mibtel: 9681 (-63)

Milan shares ended lower as this week's dramatic stock rally suddenly faltered and selling and profit taking moved in to undermine the tentative upturn that the market had seen since Tuesday, dealers said.

The US PPI inflation figures combined with an opening dip on Wall Street undermined investor sentiment and foreign buyers pulled away.