Frankfurt DAX: 3395.95 (+55.62)

German shares pared some of their gains in electronic after hours trading, with the IBIS DAX closing on 3375.27. The market's focus was on the US after Wall Street's overnight surge. Gains were capped by a sharp fall in market heavyweight Siemens after it issued a muted forecast for future trading.

Paris CAC-40: 2533.64 (+18.97)

French shares rallied just over 1 per cent at the opening, reviving from a depression caused by political uncertainty ahead of this week's news of French parliamentary elections for late May. Traders said Wall Street's rise and firmer bonds helped, as well as a more relaxed reading of the French political situation.

Milan Mibtel: 12279 (+27)

Italian shares held firm in afternoon trading after the European Commission forecast for Italy's debt/GDP ratio of 3.2 per cent for 1997 and 3.9 per cent for 1998. Share prices showed little reaction to the forecasts while the lira held largely steady and domestic bonds showed modest gains.