Frankfurt DAX: 2678.73 (+5.11)

German shares closed just above their overnight level but at the day's lows after the dollar slipped and German bonds lost ground following the surprise increase in British interest rates. Although dealers believe the outlook for German shares is positive, prices are still dependent on the US and a weaker dollar could put pressure on exporters.

Paris CAC-40: 2124.76 (-0.98)

French stocks faded towards' the close and questions about the direction of interest rates weighed down on European markets. The CAC closed fractionally lower after spending most of the day in positive territory, and did not benefit from the early gains on Wall Street after a set of US third quarter GDP figures seen as positive for the markets.

Milan Mibtel: 9588 (-94)

The Milan market closed just above the session's low after floundering in negative territory for most of the day. The weakness in Italian bond futures weighed down on the stock market.