Stocks are looking a little brighter this morning, as early losses in Europe are erased and U.S. futures start to look up. Bargain hunters are rooting around the techs, and providing some support to stocks generally.

Early today, European stocks were down heavily, led by its techs and telecoms. TheyÕre are still down a bit, but the losses have abated substantially. News of low producer-inflation in the U.K. is helping the outlook for rate cuts there. The FTSE is now down just 26 points to 5453. The CAC 40 has dropped 18 points to 4982. The DAX is also down about 18 ticks to 5844.

Asian stocks slipped pretty hard in the wake of last week’s weakness in American markets. The Nikkei shed 66 points to 12240. The Hang Seng is down 309 points to 12691.

One item supporting stocks this morning is also the Merger Monday action. Comcast Corp., the third-largest U.S. cable TV firm, is making the big noise with an unsolicited US$58 billion offer of stock and assumed debt for AT&T Corp.’s cable business. AT&T had hoped to spin off the business, although it has had failed talks with Comcast. International Game Technology is buying rival Anchor Gaming for US$1.37 billion in stock and assumed debt.

On a much smaller scale, Newalta Corp is acquiring Anadime Corp, an oilfield services company which provides waste processing and treatment services to the oil and gas industry in western Canada for approximately $18 million in stock. Newalta will pay about 2.7 million common shares, on the basis of six Anadime shares for one Newalta share, and the assumption of approximately $9 million in debt and other liabilities.

Cyberplex Inc. is selling its ProCure.com division to BCE Emergis Inc. for $5.86 million. Both companies have also agreed to enter into a 12-month technical services contract.