Frankfurt DAX: 4,094.39 (+26.4) The Frankfurt stock market posted a substantial gain yesterday but traders said the market lacked any decisive trend. German job figures were welcomed on the bond market.

Paris CAC-40: 2,919.72 (-21.17) The Paris Bourse sagged despite a strong French bond market. Trading was quiet with volume of 5.7 billion francs on the monthly settlement market. One trader said the market could pick up today and tomorrow when financial companies report first-half results. Confirmation by the government that it would privatise insurer GAN and its CIC bank subsidiary was positive but failed to excite. And the sale of a 20 per cent stake in France Telecom left them unimpressed.

Milan Mibtel 14,677 (-62) Shares in Milan also lost ground, affected particularly by the weakness of the dollar and of some other European financial markets and by an uncertain opening on Wall Street, traders said.