Frankfurt DAX: 3,760.86 (+81.6); Paris CAC: 3,447.94 (+59.49)Stock markets overcame intraday losses allowing the FTSE Eurotop 300 index to close a volatile week with a gain of 5 per cent over the five sessions.

Ericsson, however, was a loser, falling 2.8 per cent to SKr6 as the stock traded ex its $3 billion rights issue. Analysts had expected the rights issue to account for around 25 per cent of the stock's value, leaving it at around SKr6.17.

Embattled German financial services provider MLP remained in the limelight, shooting up another 15 per cent to €16.44 on takeover talk, although the company said it knew nothing about a bid.

Insurers made steady gains as the value of their equity holdings picked up in line with the markets. Dutch insurer Aegon put on 7.3 per cent to €14.05 in further response to its well-received results on Thursday.

The healthcare sector was among the day's leading losers.French drugs group Aventis tumbled after the company, the Paris bourse's second-largest by market value, said it had ended development of an experimental drug for the treatment of high blood pressure. The shares dropped 3.8 per cent to €67.05.

German drugs group Altana ran into profit-taking after posting gains in the previous four days on expectations it could be included in Frankfurt's benchmark Xetra Dax index when Deutsche Borse considers a reshuffle of constituent stocks next week. The shares were 2.4 per cent lower at €53.99.

UCB, the Belgian drugs and chemicals company, shed 2.4 per cent to €33.20 on fresh market concerns about the threat of generic drugs to its Zyrtec blockbuster anti-hayfever drug.

Accor, the French hotel group, put on 5.9 per cent to €33.78 as Goldman Sachs upgraded the stock.

Pernod Ricard recouped Thursday's losses with a gain of 4.2 per cent to €90.10 as the market continued to assess Wednesday's results, which were in line with expectations. - (Financial Times Service)