Frankfurt Dax: 3744.44 (+36.45)

German shares ended the week at record levels, with the DAX index making a 1 per cent gain, with fears easing about the future of Europe's plans for economic and monetary union after a meeting between the French and German leaders.

Paris CAC-40: 2808.52 (+48.25)

French shares surged forward to an all time high yesterday, with traders attributing a late boost to comments emerging from the Franco German summit on the single currency.

Milan Mibtel: 12761 (+292)

Italian shares closed higher in a flurry of across the board buying yesterday, spurred by hopes of a breakthrough in agreeing an EMU stability pact and US data conveying a picture of non inflationary growth. The all share Mibtel index jumped 2.33 per cent.