STOCKS NEWS EUROPE-Belgacom up 3 pct as Berenberg says "buy"

Shares of Belgian telecoms group Belgacom (Other OTC: BGAOF - news) rise as much as 3 percent to lead the Belgian blue-chip index Bel20 after Berenberg Bank upgrades the stock to "buy" on a more positive outlook.

"We believe that Belgacom is heading into an operational sweet spot under a new chief executive whose performance stood out as head of the 'at-risk' consumer business in 2013," Berenberg writes in a note to clients.

At 0830 GMT, Belgacom's shares are 2.8 percent higher at 21.85 euros, making them them the strongest performer on the Bel20 and also on the STOXX 600 European Telecoms Index which is trading with a small loss.

"Berenberg is positive on the group's chief executive. Yesterday Belgacom also became the first to launch 4G in Brussels. Those are all rather soft reasons but sometimes that's enough," a Brussels-based trader said.

For more on Belgacom's 4G roll out in Brussels, please click Reuters messaging rm://robertjan.bartunek.thomsonreuters.com@reuters.net