The weak euro and Wall Street's early retreat left bourses to close mostly lower. The FTSE Eurobloc 100 index finished 7.01 easier at 1,113.49, the FTSE Eurotop 100 gave up 31.42 at 3,017.34 and the broader FTSE Eurotop 300 ended 9.99 lower at 1,326.20.

Paris fell prey to profit-taking on a day heavy with corporate news. The CAC-40 index ended 28.70 or 0.6 per cent lower at 4,716.78.

Elf Aquitaine, the oil group, was the most heavily traded stock after it agreed to a takeover by its rival TotalFina. Elf rose €5.70 or 3.2 per cent to €186.50 while Total ended 50 cents or 0.4 per cent lower at €129.50.

Vivendi, the utilities and communications group, fell €3.40 or 4.5 per cent to €72.60 amid negative sentiment about its fixed-line telephone operations. It was further undermined by downgrades from J.P. Morgan and Warburg Dillon Read. Danone, the foods group, climbed €6 or 2.5 per cent to €244, continuing its rally from a period of underperformance that saw it fall 9 per cent in less than a week.

Frankfurt was broadly lower although some motor manufacturers posted modest gains on the eve of the Frankfurt motor show's opening day. The Xetra Dax index slid 37.04 to 5,446.91.

Motor manufacturers mostly profited on expectations that the Frankfurt show would produce positive news from a sector continuing to enjoy robust sales in North America and western Europe. DaimlerChrysler edged up 10 cents to €72.75, off a high of €74.28. BMW rose 39 cents to €31.25 but Volkswagen turned back from a high of €59.85 to close 39 cents easier at €58.01.

Chemical stocks benefited from a weak euro, which held out the prospect of higher earnings from exports. Hoechst put on 75 cents to €42.65 as the share bounced back after recent heavy selling. Degussa-Huels climbed €1.30 to €37.60.

In the high-tech sector, software group SAP put on €3.91 to €446.01 as Merrill Lynch raised its intermediate investment rating and maintained a long-term buy on the stock.

Helsinki advanced despite a plunge in the value of Raisio, the food and chemicals group, after it issued a profits warning. The Hex index ended 50.54 or 0.6 per cent higher at 7,836.9.

The ever-volatile Raisio accounted for almost 10 per cent of turnover as it fell €1.61 or 17.9 per cent to €7.36. The group warned that January-to-August and full-year earnings would be lower than expected.

Athens soared to fresh highs on broad-based buying linked to easing concerns about the economic impact of last week's earthquake and expectations of corporate deals. Investors stayed focused on smaller-capitalised stocks, which have climbed at dizzying rates in recent sessions, but a late surge in banks provided the general index with the lift needed to rise above the 6,000 mark. The general index gained 292.38 or 5.1 per cent to a record 6,032.85 close. The index also registered an intraday all-time high of 6,049.83.