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Markets in Europe were up sharply at 5.50 AM New York time.

The FTSE is up 1.3% to 6,078. Barclays is up 2.1 to 687.5 BP is up 1% to 512.5 BT is up 1% to 293.25. GlaxoSmithKline is up .7% to 1406. Prudential is up 3.7% to 666.5 Reuters is up 1.4% to 426.75. Unilever is up 2.8% to 1441. Vodafone is up 9% to 135.25.

The DAXX is up 1.5% to 6,545. Bayer 2.7% to 43.88. Daimler is up 1.6% to 52.34. DeutscheBank is up 1.9% to 93.2 Deutsche Telekom is up .7% to 12.27. SAP is up 1.4% to 34.27. Siemen is up 1.8% to 78.16.

The CAC 40 is up 1.3% to 5,367. Alcatel-Lucent is up 1.9% to 9.03. AXA is up 1.7% to 30.03. France Telecom is up .5% to 19.03. ST Micro is up 1% to 14.36. Vivendi is up .7% to 28.85.

Data from Reuters

Douglas A. McIntyre