Markets Report - Europe

Frankfurt DAX: 5564.21 (+53.23)

Frankfurt DAX: 5564.21 (+53.23)

German shares rose sharply but on thin volumes and hit a new high in after-hours electronic trading amid renewed speculation on mergers in the banking sector.

Paris CAC-40: 4049.78 (+1.86)

Paris closed the May account with a razor-thin gain, barely holding on to the record gain notched up before the Ascension Day holiday. Modest profit-taking at the end of the monthly account and basket-trading in ex-dividend stocks virtually erased all the day's early gains.

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Milan Mibtel: 23318 (+160)

The Milan market ended firmer but off the session highs in thin volume trading ahead of the weekend and Monday's holiday on the London market. The banking sector put in a strong performance.