display category name of post in wordpress

<div id="headline">
<div style="width:960px; margin:0px auto;"><h2 style="padding-left:0px;">

<?php
$category = get_the_category();
$parent = get_cat_name($category[0]->category_parent);
if (!empty($parent)) {
echo '&raquo; ' . $parent;
} else {
echo $category[0]->cat_name;
}
?>