MARKET REPORT - EUROPE

Frankfurt DAX: 2659.04 (-7.51)

Frankfurt DAX: 2659.04 (-7.51)

German shares closed bourse floor trade slightly lower on a mild bout of profit taking following recent moves up towards record highs, but the underlying tone was helped by continued dollar strength.

Paris CAC-40: 2107.05 (+2.91)

French shares stayed firm in early afternoon trading, sustained by continued firmness in bond markets, traders said.

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Milan Mibtel: 10154 (+305)

The Milan stock market surged ahead on optimism about an austerity budget, though the cabinet meeting dealing with the measure wad still going on when the market closed. The Mibtel index jumped by 3.1 per cent to break through the symbolic 10,000 point level and end at 10154.