DEBORAH MARCHINI, CNN ANCHOR: This morning, speaking of markets, those in Europe are moving to the upside. Let's get some of the reasons why now from Christopher Swann of the "Financial Times." He's in the "FT"'s London newsroom. Hello, Christopher.</s>CHRISTOPHER SWANN, "FINANCIAL TIMES": Hi there. Yes, we've had another bout of bargain hunting in the European technology sector this morning. And the semiconductor stocks are doing particularly well. STMicroelectronics, the French chipmaker, that was up about 9 percent yesterday. It's gained another 7 percent today. Also Infineon, the German chipmaker. That forged about 4 percent higher yesterday. And, again, it's up around 5 percent today. The inspiration for this seems to be coming mainly from U.S. chip stocks, where -- which rallied yesterday in spite of a flurry of profit warnings.</s>MARCHINI: Christopher, the price of oil this morning moving lower in spite of a Reuters report saying OPEC is likely to cut production this year.</s>SWANN: Well, actually, we've seen Brent crude moving just fractionally higher this morning. I think part of the reason that the impact has been rather muted was that we saw a 70-cent rally yesterday. But two things are pushing the price of oil higher. First is that burst of cold weather sweeping the northeast coast of the States. But secondly, indications from OPEC kingpin Saudi Arabia that there'll be a fairly significant cut in oil production when they meet on March the 16th. Analysts are thinking this could be well over half a million barrels a day.</s>MARCHINI: All right, Christopher Swann of the "FT," thank you.
'Financial Times': Techs Push Europe to the Upside