Shares in Paris pushed up to a record high in spite of depleted trading volumes and the closure of many neighbouring markets including Amsterdam, Brussels, Copenhagen, Helsinki, Oslo, Stockholm, Vienna and Zurich for the Ascension Day holiday. By the close in Paris, the CAC-40 index had added 173.4 at 6,599.71 to glide past the 6,562.41 peak set a month ago. However, trading volumes at 24 million shares were barely half the level of recent sessions.

Boosted by the bouncy opening for the Nasdaq, technology stocks pushed ahead strongly. Equant gained €1.89 at €48.75 and Canal Plus €15.9 at €219.9. STMicroelectronics put on €6.10 at €70.

Telecoms stayed active. France Telecom, buoyed by broker optimism over its acquisition of UK mobile phone group Orange, rose €11.5 to €168 for a three-day advance of more than 15 per cent.

Bouygues was one of the day's best CAC-40 performers after government statements again made it clear that France would not allot the third generation of mobile licences by public auction. The shares jumped 8.4 per cent or €56 to €720.

Frankfurt rose 163.09 to 7,272.76 on the Xetra DAX index after strong runs by market heavyweights Deutsche Telekom and Deutsche Bank. The former rose €2 to €68.50 and Deutsche Bank added €1.85 at €84.50.

Tech stocks were supported by the opening advances for the Nasdaq. Business software group SAP rose 5.8 per cent or €32 to €585.

Madrid was higher on the back of strength in new-economy stocks as they hitched a ride higher from the US Nasdaq market. The Ibex 35 index put on 187.0 or 1.8 per cent to 10,875.5.

Bellwether Telefonica recovered from early losses to close 20 cents higher at €22.20 while pay-TV company Sogecable jumped €2.90 to €42.60.

The FTSE Eurobloc 100 index rose 22.64 to 1,471.17 and the FTSE Eutotop 100 climbed 53.08 to 3,791.45. The FTSE Eurotop 300 index added 19.56 to 1,614.96.