The DAX index of leading shares lost 0.46 percent as trading got underway in Frankfurt but then showed a gain of 1.16 percent to 5,991.7 points.

In Tokyo, stocks fell 1.68 percent to their lowest level in nearly five months after Wall Street slumped some five percent on concerns over an unprecedented US ratings downgrade by Standard and Poor's.

Copyright AFP (Agence France-Presse), 2011