Frankfurt DAX: 3,949.14 (-4.70)

German shares finished largely flat yesterday amid subdued trade on the first day of the new Xetra electronic trading system.

Hampered by the unfamiliar new system, Wall Street's holiday on Thursday and general pre-weekend lethargy, shares were trapped in a tight corridor.

CAC-40: 2,859.19 (+30.18)

French shares staged a late rally as a previously languid market filled out after a futures and options expiry brought the index back to near unchanged.

Brokers said this suggested selective investors may be taking some heart from gains in the United States and dollar stability after weeks of Asian angst.

Milan Mibtel: 15,365 (+96)

Italian shares closed up on the day, boosted by a rebound in oil giant ENI and buoyed by hopes of an early interest rate cut while gains on Wall Street also helped.

Telecom Italia finished 0.62 per cent higher at 10,790 lire as investors were unfazed by the departure of chairman, Mr Guido Rossi who resigned over a dispute concerning representation of minority interests.