German shares ended bourse trade with modest gains despite earlier bouts of profit taking following an early morning rally to record levels. Dealers said the current level of the main DAX index was expected to hold firm ahead of the giant Deutsche Telekom flotation set for Monday.
CAC-40: 2218.18 (+0.99)
On the Paris bourse Frenchstocks were barely affected by US data but had fallen from morning highs into negative territory. Main focus was insurers Axa and UAP as they requoted for the first time since announcing on Tuesday they planned to merge, creating the world's second largest insurance company.
UAP shares soared at the open, up 17.19 per cent from November 8th close. Axa meanwhile fell lower in smaller but still heavy volume as investors reacted to the expected dilution of Axa share value from the merger.
Mibtel: 10323 (+157)
Italian shares closed well up on the day in line with a surging futures market and despite some late profit taking.
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