Markets beat the retreat

Frankfurt DAX: 5,083.80 (- 27.08)

Frankfurt DAX: 5,083.80 (- 27.08)

The German DAX closed weaker and under the key 5,100 point level as flat to mildly better Wall Street trading failed to provide encouragement.

The market was fuelled earlier in the day by a robust performance in blue-chip stocks. Some profit-taking in afternoon trade weighed the index down.

Paris CAC-40: 3,733.93 (- 43.3)

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French shares finished with a fall of one per cent as operators took profits after a jump of almost 2.5 per cent in the previous session. Brokers said prices were unlikely to advance today, even with US first quarter GDP and the Cost Employment Index figures due.

"The market is technically very much overbought and should come down over the next few weeks to the 3,630-3,610 area," said one dealer.

Milan Mibtel: 22,243 (- 658)

The Milan bourse extended losses in nervous late trade to close sharply down as Wall Street pared early gains and as the dollar weakened against the mark.

"Small and medium stocks did better today after missing out on the recovery on Tuesday which centered on blue chips," one dealer said.