Markets in Europe were rallying at 6.15 AM New York time.

The FTSE was up .6% to 6,240. Barclays was down .2% to 747.5. BP was up 1% to 542. BT was down 1% to 310. GlaxoSmithKline was up 1.1% to 1414. Prudential was up .4% to 726. Reuters was up .7% to 450.75. Unilever up .1% to 1421. Vodafone was down 2% to 149.

The DAXX was up .5% to 6,732. Bayer was up 1.3% to 44.12. Daimler was up 1.2% to 47.12. DeutscheBank was up .5% to 104.15. Deutsche Telekom was up .2% to 14.63. SAP was down .4% to 38.43.

The CAC 40 was up .7% to 5,600. Alcatel-Lucent was down . 2% to 11.35. AXA was up 2% to 33.01. France Telecom was flat at 22.03. ST Micro was up .3% to 14.71. Vivendi was up .5% to 31.87.

Data from Reuters.

Douglas A. McIntyre