The German DAX index of 30 blue chip German shares closed floor trade in Frankfurt down 11.92 points, hit by profit taking, weaker German bunds and modest volumes. The IBIS Dax of electronically traded German shares continued the downward trend set in bourse trade, closing the day at 2524.84 points, down 24.28 points or 0.95 per cent.

Paris CAC-40: 2122.10 (+10.12)

French shares closed the first day of the May account on a new year-high amid high turnover. Traders said franc strength and widespread hopes of a rate cut by the Bank of France today buoyed investment sentiment.

Milan Mibtel: 10518 (+76)

Italian shares were slightly higher after a changeable session as early losses from profit taking were countered by strong performances in some shares. Dealers said a public holiday tomorrow also kept price movements subdued as many traders had closed up shop for a long weekend.

"Today was really Friday," said one dealer yesterday.