Market Report - Europe

Frankfurt DAX: 4709.83 (+17)

Frankfurt DAX: 4709.83 (+17)

Traders said the Frankfurt market had been encouraged by Wall Street gains on Thursday and by good German public deficit figures, strengthening confidence in the single currency, the euro.

German car shares were among the top advancing stocks, led by BMW which rose 6 per cent to close at a record high. Hoechst was strong after announcing annual results.

Paris CAC-40: 3417.35 (+20.32)

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Shares bounced back into the black in the last minutes of a record-breaking session, tracking an up-and-down Dow and regaining record territory with volume again very heavy.

Milan Mibtel: 19890 (+22)

Italian shares closed flat, erasing earlier losses after Wall Street opened higher. Dealers said they expected to see a nervous market next week.

Shares are trading near all-time highs and it is unclear whether the market has the momentum to climb to new highs.

San Paolo shares closed 2.58 per cent higher at 21,000 lire.