European markets ended weakly despite brave attempts at a recovery by leading technology stocks and an early rally in the US for the Nasdaq.

Frankfurt finished a volatile session off 45.50 at 7,599.39 on the Xetra DAX index, a full 155 points above the day's low but down a net 4.2 per cent on the week.

With the Nasdaq having racked up further heavy overnight losses, the day made an understandably uncertain start. SAP hit a low of €729.50 in early trading and Deutsche Telekom €80.25.

But by mid-morning sentiment had begun to rally and with Wall Street opening on an altogether brighter note, the bargain hunters were briefly in evidence.

Deutsche Telekom, overshadowed lately by worries about the price at which its T-Online Internet arm will be floated, finished up 70 cents at €84. Siemens added €1.49 to €149.99, but SAP fell a further €30.10 to €744. Paris closed down for the third day, with the CAC 40 index losing 27.77 at 6,286.05. It has slipped 1.2 per cent over the week.

Carrefour, the world's second biggest retailer, was hit by investor disappointment over its profit forecast and subsequent downgrades from Merrill Lynch, HSBC and local broker Cheuvreux. Its shares finished at €133.90, a loss of €16.10 or 10.7 per cent.

Bearish sentiment towards new economy issues thwarted the bourse debut of Trader.com, which closed more than 23 per cent below its offer price of €30, ending at €23.01.

Energy and transport company Alstom soared €4.97 or more than 20 per cent to €29 after it bought the remaining 50 per cent of ABB Alstom Power.

Some of the other old economy stocks in the CAC did well, particularly Societe Generale, up €9.40 or 4.7 per cent to €208.40. TotalFinaElf rose €2.50 to €156.50.

Amsterdam, which closed just as Wall Street opened, clawed back from a low of 652.13 on the AEX index to end off 2.17 at 662.29.

Milan ended flat as some TMT stocks staged a cautious recovery. The Mibtel index fell 43 to 31,679.