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.