Frankfurt Dax: 3596.09 (+52.66)

The German DAX index held gains to end the bourse session up 1.5 per cent, buoyed by surprise at the US Federal Reserve's decision to leave rates unchanged, with the outlook for after bourse trade seen hinging on Wall Street opening but positive in mood. In post bourse trade the DAX index stood at 3600.40.

Paris CAC-40: 2786.35 (+35.24)

French shares recovered all of Tuesday's losses and made some headway, as the market welcomed the benign outlook for US interest rates. The CAC index regained the 2800 level hit last week but was unable to hold the gains amid profit taking.

The blue chip CAC-40 index closed up 35.24 points or 1.28 per cent at 2786.35.

Milan MIBTEL: 12527 (+92)

Italian shares closed mostly higher but below the day's highs after bond futures weakened. But telecom stocks drew support from rising hopes that the Senate would approve a Bill instituting a regulatory body for the industry.