Slight slip as Germans hold gains

 

Frankfurt Dax: 4,072.96 (+4.91)

German shares slipped yesterday in a move to consolidate the rich gains gathered from the previous day's hearty trade.

Although the Dax ended with modest gains, the Xetra Dax which reflects all-day computer trade, finished 29.52 points or 0.72 per cent down at 4,096.40.

Paris CAC-40: 2,913.09 (-5.39)

French shares finished a touch lower yesterday as the market took a pause after the previous day's 2 per cent rise. The market was supported by gains on Wall Street and continuing talk French company takeovers. Accor, Skis Rossignol and Castorama were among the companies targeted.

Milan Mibtel: 15,592 (-20)

Italian shares closed slightly lower after trading in a narrow range, as Wall Street opened little changed. Dealers said the market lacked direction in the absence of significant economic or political events.

Turnover was about 1.5 trillion lire, the same as Monday, with much of the trading activity dedicated to short covering by brokers who had been betting on further declines amid continued Asian market turmoil.