German shares closed near the session lows, unable to recover from an early slump on bond markets. Bonds fell in response to the poor February employment figures. The current trend of trading in a narrow range seems likely to continue although some players forecast an improvement over the next few days.

Paris CAC-40: 2005.89 (+3.95)

French shares ended slightly higher after a directionless session that saw the CAC-40 index of leading shares trade in a narrow, 14 point range, dealers said. They, said the stock and bond markets were both lacklustre despite growing expectations of French and German interest rate cuts today,

Milan Mibtel: 9754 (-121)

The Milan market closed sharply lower in thin volumes, weighed down by a weaker lira and by bond market weakness as investors shrugged off good inflation figures. Dealers said there was little interest, with most investors on standby until the elections.