Frankfurt DAX: 4563.55(+67.22) German shares plunged into negative territory in afternoon electronic trade after holding gains for most of the day. The Xetra Dax, which measures allday computer trade, closed 20.83 points lower at 4,516.08.

Schering slipped back to 204.80 deutschmarks after an early rise to DM211 after reporting a 23 per cent rise in 1997 profits.

Paris CAC-40: 3,220.94 (+4.28) French shares eked out a slight gain but ended well below their record-breaking best as a wobbly Wall Street compounded a sense that the latest sharp rally may be heading for a pause.

Strength in some financial stocks amid sector restructuring talk across Europe counterbalanced profit-taking in stocks like France Telecom.

Milan Mibtel: 19,521 (-34) Italian stocks ended slightly lower, fading from morning highs as a wave of profit-taking set in with market sentiment also depressed by a lower Wall Street. Bank stocks remained the centre of attention but blue chips fared badly.