Markets in Europe are sharply higher at 6.20 AM New York time.

The FTSE is up .7% to 6,300. Barclays is up 2.3% to 729. BP is up 1.2% to 522.5. BT is up .3% to 308.25. GSK is down .3% to 1409. Prudential is up .1% to 734. Reuters is up .9% to 452.25. Unilever is up .3% to 1493. Vodafone is up .8% to 144.2.

The DAXX is up 1.6% to 6,822. Bayer is up 1.4% to 45.42. Daimler is up 2.5% to 58.45. DeutscheBank is up 2.3% to 99.8 Deutsche Telekom is up .1% to 12.48. SAP is up .7% to 34.52. Siemens is up 2.9% to 81.89.

The CAC 40 is up 1.3% to 5,571. Alcatel-Lucent is down 1.1% to 8.7. AXA is up 3.5% to 31.68. France Telecom is up 1.1% to 19.94. ST Micro is up 1.1% to 14.4. Vivendi is up 1% to 29.93.

Data from Reuters

Douglas A. McInyre