Markets in Eruope rose sharply at 4.40 AM New York time.

The FTSE was up 3.3% to 5,678. Barclays (NYSE:BCS) was up 10.2% to 472.75. Lloyds ws up 7.1% to 465.

The DAXX rose 3.2% to 6,519. Deustche Bnk (NYSE:DB) was up 5% to 73.78 marks. Siemens (NYSE:SI) was up 2.5% to 58.7.

The CAC 40 traded higher 3.2% to 4,680. Alcatel-Lucent (NYSE:ALU) was up 4.7% to 3.54 francs. AXA (NYSE:AXA) was up 4.6% to 22.05.

Data from Reuters

Douglas A. McIntyre