Frankfurt DAX: 3528.78 (+68.41)

Germany's IBIS DAX index continued its record breaking rally and ended at an all time closing high, with market players revising their outlooks for the index upwards to 3,600/3,700 points for 1997.

The IBIS DAX ended up 74.61 points, or 2.14 per cent, at 3,565.69 points, with trading sentiment boosted by an upbeat start on the Dow Jones industrial index on Wall Street.

The dollar continued to provide support, having earlier contributed to a record closing high on the DAX index of 3,528.78 points.

Paris CAC-40: 2672.84 (+17.53)

French shares closed higher, supported by a rise on Wall Street, but volume was thin in part because London was closed for a market holiday.

Volume was a moderate Ffr4.6 billion.

Milan Mibtel: 12,333 (-21)

Italian stocks closed slightly lower in thin trade with no real direction, given London's holiday closure.

Milan took little notice of Wall Street's performance. Total traded volume was lower than Friday's at around 553 billion lire against 580 billion.