Frankfurt Dax: 2774.50 (+10.41)

THE Frankfurt stock market posted a moderate advance as the DAX index finished the official session at 2774.50 points, up 0.38 per cent from 2764.09 at the Tuesday close. Traders said the market was helped by Wall Street's recent strength, but hurt by dwindling hopes for a further German rate cut. Deutsche Telekom lost 0.27 mark to end at 31.80 marks.

Paris CAC-40: 2233,39 (-6.66)

The Paris Bourse suffered a moderate loss as the CAC 40 index finished the day at 2233.39 points, off 0.30 per cent from the Tuesday close. Traders said the stock market followed the bond market down, the latter being depressed, paradoxically, by better German economic prospects and by some political statement in France in favour of a weaker franc.

A stronger German economy might mean no further reductions in German interest rates, and the Paris Bourse would take a dim view of that.

Milan MITBEL: 10433 (+18)

Italian shares, which earlier were dragged lower by bond futures, recovered some ground by the close in the wake of a firmer opening on Wall Street.