Around the World's Markets: Paris

EUROPEAN SHARES followed Wall Street higher and the CAC-40 share index in Paris reached a new closing high for the year, up 78.43 at 4,379.34, a gain of 1.82 per cent, in spite of a 5.44 per cent slump in France Telecom, which knocked 30 points off the index.

Among the biggest rises were shares which fell on Friday after falling out of the Eurotop 100 share index, including LVMH, up 10 per cent, L'Oreal, which rose 8 per cent, and Saint-Gobain which rose more than 6 per cent.