European stock prices are higher in midday trading Thursday, as investors cheered news that the world's central banks are pumping money into the struggling global financial system.

London's Financial Times index is up 95 points, nearly two percent, at 5,007.  The CAC-40 in Paris is up 62 points, more than 1.5 percent, at 4,062, and the DAX index in Frankfurt is up 87 points, one-half of one percent, at 5,948.

In New York, the S&P futures contract is up 15 points, indicating a higher opening for U.S. stocks.

Tokyo's Nikkei Index fell 260 points, more than two percent, to finish at 11,489 - its lowest finish in three years.

Hong Kong's Hang Seng index dropped just five points to end the day's trading at 17,632.  

Gold is trading higher at $873.94 an ounce.

The dollar is trading mostly lower against other major currencies.