DEBORAH MARCHINI, CNN ANCHOR: European markets moving higher this morning in the wake of a nice rally on Wall Street yesterday.</s>DAVID HAFFENREFFER, CNN ANCHOR: But despite that, we do have S&P; futures pointing to a mixed to possibly weaker open for us today. Our Todd Benjamin now has our London update -- Todd.</s>TODD BENJAMIN, CNN CORRESPONDENT: Good morning. Yes, these markets can shift very quickly, depending on what the Dow does. But after yesterday's big rally, it has given some impetus to move higher, at least for now. London is up one percent; the Dax in Frankfurt is up 1.7 percent. It's being helped there by the possibility of a large merger in the utilities. Paris is up 3/4 of 1 percent, and Zurich is up about 1/3 of a percent. In the currency market, the yen is a little changed against the greenback, right around there at the 1.07 level. The euro's also a little changed against the dollar, hanging out right around the 0.97 level. And the pound's about 1/4-cent stronger. And the pound seems to be working its way back slightly after sliding to eight-week lows. And I think that's on the back of an expectation, maybe, that the Bank of England will have to raise rates further because the budget which was announced this week by the government is perhaps a little looser fiscally than some people have thought it might be. And oil, even though OPEC is expected to raise production at its meeting in Vienna on Monday, oil's actually higher this morning, up 57 cents at $26.05. Back to you in New York.</s>MARCHINI: All right, Todd, thanks. Search CNN.com CNNSI.com CNNmoney.com The Web
Euro Markets Moving Higher in Wake of Wall Street Rally