DEBORAH MARCHINI, CNN ANCHOR: European markets are up. London is getting a boost from a rally in shares of British Airways. Hala Gorani's got that story and the market update. Hi, Hala.</s>HALA GORANI, CNN CORRESPONDENT: Good morning, Deborah. Yes, European markets are up following the tech-based rally on Wall Street yesterday, with a lot techs and telecoms pulling indices across Europe up right now. The FTSE 100 is up about 1 1/2 percent. British Airways gaining ground, shot up 13 percent earlier this morning, is now up about 4 1/2, after it's CEO, Bob Aylings, stepped down, investors welcoming the news. Sainsbury, the British supermarket chain, up nine percent, one of the best gainers in London. Turning to the Dax in Frankfurt, it is up 3/4 of a percent. Deutsche Telekom, after it said that its takeover talks with Qwest Communications and US West were off, is gaining ground; it's now up three percent in Frankfurt. SAP, the software maker, also gaining ground after it announced a stock split. And the CAC-40 in Paris is the best performer among the Big Four; it is up more than 1 1/2 percent. The CAC-40 with Vivendi, LVMH doing well, and Cap Gemini one the best performers, almost a six-percent gain for Cap Gemini after it had announced an Internet alliance with Sun Microsystems in the U.S. Turning to currencies, and the euro is a touch fire, closer to the 97-cent level than it was in Asian trading. As for the dollar against the yen, it's stable, above 106, and the pound, moving away from the seven-month low level it reached last week; more and more it's above 158 against the U.S. currency. That's the latest from London. Deborah, back to you in New York.</s>MARCHINI: All right, thanks, Hala, and have a great weekend.
Techs, Telecoms Leading European Markets Rally