European stock prices are higher in midday trading Wednesday.

London's Financial Times index is up one and one-half percent. The CAC-40 in Paris is up two percent, and the DAX index in Frankfurt is up nearly two percent.

In New York, the S&P futures contract is up eight points, indicating a higher opening.

Tokyo's Nikkei index rose one and one-half percent to finish at 9,797.

Hong Kong's Hang Seng index closed at 22,061, virtually unchanged from Tuesday.

Gold is trading at $1,508.00 an ounce.

The dollar is lower against other major currencies.