Frankfurt DAX: 5376.88 (+79.53)

The Frankfurt stock market posted a strong gain on the day mainly thanks to the dollar's firmness. Siemens was one of the day's big winners, jumping by 6.70 deutschmarks to DM117.20 on a recommendation by US broker Donaldson, Lufkin Jenrette, which sees the price rising to DM135.

Auto stocks were still a major interest, VW falling DM11 to DM1,450 and BMW gaining DM6 to DM2,040. Vickers Group chief Mr Colin Chandler said VW was close to winning the battle to take over Rolls-Royce.

Paris CAC-40: 4019.76 (+32.43)

The Paris Bourse sailed to its 31st record closing high of the year on Wednesday as the CAC40 indicator finished at 4019.76 points, up 0.81 per cent.

Milan Mibtel: 24095 (-249)

The Milan market went against the European trend and closed 1 per cent lower. San Paola and IMI held their gains after an upbeat analysts' meeting.