Frankfurt Dax: 2734.30 (+5.98)

German shares prices closed the electronic after-hours session at a record high with the IBIS Dax index closing on 2764.30, after ending the official trading session on 2734.30. Dealers expect the market to push ahead in today's session but they are divided on whether the market can consolidate ahead of expected turbulence next week when Deutsche Telekom shares trade for the first time.

Paris CAC-40: 2229.13 (+23.93)

Merger fever and comments on the dollar from a Bundesbank official seen as benign for the franc moved the Paris market ahead to a new high. Dealers said the UAP-Axa merger spurred the financial sector and sent BNP - a major UAP shareholder - soaring.

Milan MIBTEL: 10141 (+190)

Milan shares ended sharply higher driven ahead by the surge in Stet shares which were suspended shortly at the close after reaching the 10 per cent trading limit. The Italian government said that it plans to merge Stet with Telecom Italia.