The DAX is up 0.5%, CAC 40 up 0.6%, while Spanish stocks are leading the way with the IBEX up 1.0%.

The high Eurozone inflation figures earlier aren't doing much harm to equities, after having dropped a little towards the end of March. Elsewhere, US futures are also seeing a slight rebound with S&P 500 futures up 0.5%, Nasdaq futures up 0.6%, and Dow futures up 0.5%.

US non-farm payrolls will be a key risk event to watch later in the day but with inflation being all the rage now, I'm not convinced that labour market data (yes, there is wages data too but it shouldn't tell us much) will do much to affect sentiment.