Frankfurt DAX: 5,568.88 (+ 112)

German shares eased up on the back of market optimism about the effect of the Russian economy on Germany. There was also some solace taken from President Clinton's television broadcast about the Lewinsky affair. The top gainers included Adidas Salomon, which recouped recent losses and SAP up 5.15 per cent.

Paris CAC-40: 4,123.25 (+139.44)

Paris stocks closed up 3.5 per cent when the market was lifted by a European wide rally as the yen steadied and Wall Street continued to be bullish, despite Russia's de facto devaluation. But brokers warned that the French index was still volatile.

Milan Mibtel: 24,158 (+503)

The Milan bourse rose to end at session highs yesterday, receiving a late boost from a bullish Wall Street and a soar in the price of Olivetti. "This afternoon the Yen recovered and Wall Street moved decisively higher and Olivetti's rise also helped the bourse indexes," said a trader.