DEBORAH MARCHINI, CNN ANCHOR: Well, earnings and interest rates are dominating trading in Europe this morning.</s>DAVID HAFFENREFFER, CNN ANCHOR: Todd Benjamin has our London update. Good morning, Todd.</s>TODD BENJAMIN, CNN CORRESPONDENT: Good morning. It's flat trading in Europe, with the exception of Zurich, Zurich is off about a third of a percent, but as you can see, those other markets are barely budging at all. The big story in the currency markets still the euro, you can see it's struggling just to hold the 89 level. At one point, it had traded down to 88.59, 88.44 depending where you take it, depending whose quote you take, but either way that was a record low and analysts say it still could go further down. So a lot of pressure still on the European currency. And in terms of the oil market, oil is down 15 cents at $24.85 a barrel. And in corporate results, a strong set of corporate results today. Oil giant Royal Dutch Shell reporting 118 percent increase in first-quarter earnings. Basically, they had stronger oil prices, and they're bearing the fruit of their restructuring over the last 18 months. But the market having a mixed reaction. In Amsterdam, the stock was actually down. In London, it's up better than one percent. Deutsche Bank also up better than one percent after having a blowout first-quarter. An increase of 76 percent in pre-tax first- quarter profits driven by a doubling in trading profits. So that Bankers Trust acquisition paying off there. And Alcatel is leading the pack in Paris. It's up some six percent, watch for it in New York. After reporting record first- quarter results and saying it plans to spin off its cable business to focus on telecoms. Back to you in New York.</s>MARCHINI: All right, Todd Benjamin reporting from London. TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
European Markets Flat; Euro Hits New Low