Frankfurt DAX: 5906.85 (+9.41)

The Frankfurt stock market posted a modest gain partly thanks to Tokyo's strength as the DAX index finished at 5906.85 points, up 0.16 per cent from the Tuesday close. Volkswagen hit a record high and was among the top advancers after reports that it is in talks with Volvo about a co-operation deal.

Paris CAC-40: 4260.68 (+57.23)

The Paris Bourse hit a new record closing high, the 42nd of the year so far, as the CAC-40 index finished at 4260.68 points, up 1.36 per cent from the Tuesday close. During the session, the CAC-40 reached its record level at 4273.45 points. Operators said the strong performance was due to the Tokyo stock market's firmness, a decline of concern about Asia, and the dollar's progress.

Milan Mibtel: 23479 (+652)

The Milan market gained almost 3 per cent, with the solid opening on Wall Street giving the market a push in afternoon trading. Foreign investment funds were active in the market.