Markets going up with Dow

 

Frankfurt DAX: 3042 (+37)

The German market closed well ahead but dealers attributed most of the gains to short-covering. Bank stocks pared back losses incurred after Commerzbank reported lower than expected 1996 earnings.

Paris CAC-40: 2482.76 (+47.59)

French stocks rose to close at a record high, boosted by the market-friendly US economic data which reduced fears of a rise in US interests rates.

In heavy volume trading the CAC-40 blue chip index ended the day up 1.95 per cent breaking the record set on January 23rd.

Milan Mibtel: 12,480 (+101)

Italian shares reversed earlier losses to rebound to a higher close on the back of early strength on Wall Street.

But the mood in Italy remained cautious. "Buying interest remains very cautious," one dealer commented.

Olivetti crashed nearly 7 per cent before recovering to end just slightly down on worries about results due today.