Frankfurt Dax: 2398.76 (+17.86)

German shares lost much on their early gains in after hours trading, with the IBIS Dax index rising to 2404 before profit taking brought the index back to 2392. The market was underpinned by the firmer dollar and hopes of a rate cut in the near term from the Bundesbank. Dealers expect further modest gains next week.

Paris CAC-40: 1964.28 (+4.22)

The Paris market closed marginally higher after a see saw session in which profit taking offset the positive impact of the French interest rate cut, the stronger franc, a firmer US market and further rate cut hopes.

Milan MIBTEL: 9833 (+275)

The Milan market had a bumper day with very busy trading, buoyed by optimism over a quick solution to the Italian political crisis and an expectation of interest rate cuts in the near term.