Markets in Europe were off modestly at 7 AM New York time.

The FTSE was down .6% to 5,512. BP (BP) was down 1.9% to 505. British Air was up 3.9% to 231.75.

The DAXX fell .1% to 6,355. BMW was up 3.4% to 34.9. Siemens (SI) was off 1.4% to 67.95.

The CAC 40 dropped  .6% to 4,530. Alcatel-Lucent (ALU) was up 4.3% to 3.42. AXA (AXA) was down 2% to 20.32.

Data from Reuters

Douglas A. McIntyre