Stocks are poised to rise this morning, as traders hunt for recent bargains, M&A deals continue and oil prices rise.

Crude oil prices are up again on hopes that Russia may join OPEC in production cuts.

In Europe, stocks are up on stronger economic news. Strong retail sales in the U.K. and an increase in French consumer confidence is buoying traders. The FTSE is up 48 points to 5,212. The CAC 40 has gained 33 points to 4,497. The DAX is up 29 points to 5,017.

Overnight in Asia, stocks rebounded, too. The Nikkei added 82 points to 10,453. The Hang Seng gained 272 points to 11,427.

In M&A news, Vivendi Universal SA said it has started to sell about 9% of Vivendi Environnement SA to raise US$1.1 billion.

R.J. Reynolds Tobacco Holdings Inc. has upped its offer to acquire Santa Fe for US$337.5 million in cash, up from US$319 million. Rothmans increased its offer to acquire Santa Fe to approximately US$353.7 million in cash, stock and debt last week. Santa Fe has advised Rothmans that it intends to recommend the RJR bid. Rothmans says it does not expect to go higher.

Burlington Resources Inc. has completed its takeover of Canadian Hunter Exploration Ltd.

Finally, Canadian 88 Energy Corp. announces that it has no physical or financial exposure to Enron Corp. or its Canadian subsidiary, Enron Canada Corp.