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CNN Money Morning

All the Major Markets in Europe are Up

Aired September 11, 2001 - 06:15   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
JACK CAFFERTY, CNN ANCHOR: The Japanese markets got a bit of a reprieve after some serious selling pressure over the last several sessions.

All right, let's swing across to the London bureau and my friend Richard Quest and get an up-to-the-minute report on those European markets -- good morning.

RICHARD QUEST, CNN CORRESPONDENT: A better day than we've seen in a while, Jack. The bottom fishers are out and about. All the major markets in Europe are up. The London FTSE gaining 1 percent, now comfortably over 5000 at 5086. The DAX 4740 in Germany, a gain of 1.4 percent. A similar 1.4 percent gain for the CAC Quarante in Paris. It's standing up 4445. The SMI in Zurich is trading up around about a quarter of a percent.

The dollar is stronger against all major currencies. It's trading at around 89 to the -- U.S. cents to the euro. The dollar-yen at 121 and the pound against the dollar, if you care, if you're coming to this part of the world, 1.4560.

Porsche is probably the most profitable car company in the world. It's announced profits of $400 million on sales of 54,000 cars. That was up 12 percent. They're expensive cars, of course, selling well in the United States.

Finally, if you're using one of these in Europe, be prepared to pay a great deal of money, cell phone roaming charges. The European Commission says there's been no move to reduce cell phone roaming charges across the continent of Europe and they're thinking of regulating them themselves.

Jack, before I go, there's one way to cut a favor with your top and its new management, have the CNN theme tune, wait for it, as your ringing tone on your mobile. Here we go.

CAFFERTY: All right.

QUEST: This is CNN.

CAFFERTY: I love it. Hey, let me ask you something, I'm planning a trip to -- I'm coming over there in about two weeks, can I stay at your house?

QUEST: Well, did you see that interesting report about hotel rates in London, they're down, but I'm delighted to say...

CAFFERTY: Hey, come on.

QUEST: ... the Quest Towers...

CAFFERTY: Trying to save a dollar here. I guess that means no. All right, thanks. I'll talk to you tomorrow.

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