DAX: 3805.29 (+6.78)

German shares notched up more records as the blue chip DAX shrugged off Wall Street losses to reach an all time high close, but profit taking took the edge off the market's advance. But the index fell back from its level in after hours trade the previous day, when the IBIS DAX rose to 3,819.52 points on a wave of liquidity before the close of the second quarter. Prices picked up again amid fresh interest in car stocks and sent the IBIS DAX index to a flat close of 3820.16 points.

CAC-40: 2893.64 (+26.20)

French shares also hit a record closing high, with Rhone Poulenc jumping 20 per cent on news that it plans to buy out its US subsidiary, Rhone Poulenc Rorer. Cashrich investors were convinced that the market could only go one way - up - and the market was benefiting from strong liquidity.

Mibtel: 13407 (-62)

Italian shares closed lower, with the recent rally petering out as a result of profittaking.