MARKETS REPORT - EUROPE

Frankfurt Dax: 2,356.45 (+26.9)

Frankfurt Dax: 2,356.45 (+26.9)

German shares hit a new record closing level, bolstered by a strong German debt market and views that the Bundesbank may be forced to cut rates due to bleak economic data. The German market was buoyed by growing sentiment that the German economy was not in as bad a shape as some recent economic reports have suggested.

Paris CAC: 1,907.59 (+9.74)

French shares finished with moderate gains yesterday putting an end to losses in the past six sessions. Tracking the bond market, stocks rallied well on hope of interest-rate cuts.

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Milan Mibtel: 9,336

Italian shares ended unchanged after a thin session. Dealers said the late afternoon was enlivened by some skirmishing ahead of Monday's options settlement date.