Frankfurt Dax: 3184.36 (+46.35)

German shares got the week off to a strong start with prices approaching record high levels as the market shrugged off comments from G7 leaders this weekend which seemed designed to cap the dollar's gains. However, a factor weighing on volumes in floor trade was the Fasching pre Lenten carnival, which runs until Wednesday and is expected to keep activity limited, especially in Frankfurt and Duesseldorf.

Paris CAC-40: 2595.37 (-2.15)

The Paris Bourse overcame some initial hesitation yesterday to climb to an all time high, only to lose all its gains to close the day with a small loss. The CAC 40 index was down a sharp 0.56 per cent at the opening, but the market quickly pulled itself together to send the indicator up through the 2600 point level for the first time ever to peak at 2615.68 points. But prices then eased to bring the indicator down to 2595.37 points at the close.

Milan MIBTEL: 12680 (-119)

Italian shares closed mostly lower, driven down by institutional selling of blue chip stocks ENI and Telecom Italia.