"The BMW figures speak for the automobile market," said Michael Rachor, who manages the equivalent of $230 million at Activest Investment in Munich. "They show it is still possible to sell cars in this environment and the dollar doesn't necessarily affect all carmakers." Rival DaimlerChrysler AG added 1.8 percent to 28.15 euros.
ABN Amro Holding NV, the biggest Dutch bank, rose 5.7 percent to 14.92 euros after Deutsche Bank lifted its recommendation for the shares to "buy" from "hold." The bank said in a note to clients the shares are "cheap" compared with rivals.
Royal Ahold NV, the world's third-largest retailer, climbed 9.4 percent to 5.85 euros. The company plans to cut spending and may put units up for sale to conserve cash and shrink a debt load of more than twice the company's market value.
The stock has gained 13 percent this week. The company said on Thursday its US Foodservice unit overstated earnings during the past three years by US$880 million. That's as much as 76 percent more than estimated.
BT Group Plc jumped 5.7 percent to ?1.86. J.P. Morgan reiterated its "overweight" recommendation on the shares, saying it is optimistic about earnings and cash flow.
BT's main business is ``robust,'' and its ``valuation remains attractive,'' the brokerage said in a note to investors. The highest risks to the company's revenue relate to businesses that have lower gross margins, thus limiting the effect on overall earnings. BT is also making ``strong progress'' on cost-cutting, the note said.
Royal & Sun Alliance Insurance Group Plc, the world's oldest insurer, dropped 3 percent to < Alstom SA, whose power equipment generates a fifth of the world's electricity, fell 11 percent to 2.84 euros, after Merrill Lynch & Co reiterated its "sell" recommendation on the stock.
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