DAVID HAFFENREFFER, CNN ANCHOR: Many European markets are posting significant gains so far today. Todd Benjamin now has that part of our London update this morning -- Todd.</s>TODD BENJAMIN, CNN CORRESPONDENT: Good morning, Dave. The rebound on Wall Street certainly helping these markets in terms of the Dow's bounce back in late trading yesterday. London is up nearly 2 percent; the Dax is up 1 percent; Paris is up 1 percent; and Zurich is up more than 3/4 of 1 percent. In the currency market, the dollar is slightly stronger against the yen, the euro is slightly changed against the dollar, and the pound is about 1/3 of a cent weaker against the greenback. Oil -- oil, very little movement this morning. It's only down by 9 cents a barrel at $26.49 a barrel. Of course, that is Brent Crude trading here in London. Alcatel, though, is down 5 percent, the market not liking its acquisition of Newbridge Networks for $7 billion. And I do want to mention the Bundesbank. The Bundesbank, in a report, said there is a risk to global recovery, and that has basically overvalued stock markets. For instance, they said if the U.S. stock market was to go through a severe correction, that could impact consumer spending and, therefore, growth. So, a warning from the Bundesbank. Back to you in New York</s>HAFFENREFFER: All right, Todd. Thanks very much for that update from London.
European Markets Post Significant Gains