European stocks are trading stronger recouping some of yesterday's losses after the ECB did not announce immediate monetary policy action. Inflation forecast for the Eurozone was lowered to 0.5% in 2014 from the previous estimate of 0.6%, to 0.7% in 2015 from the previous estimate 1.1% and to 1.3% in 2016 from the previous estimate 1.4%.

The ECB also cut its economic growth forecast for the Eurozone through 2016. The growth was lowered to 0.8% 2014 the previous estimate of 0.9%, to 1.0% in 2015 from the previous estimate of 1.6% and to 1.5% in 2016 from the previous estimate of 1.9%. The ECB warned that new inflation forecasts did not take into account the recent decline in oil prices.

German factory orders adjusted for seasonal swings and inflation beat expectations, a sign of recovery of the Eurozone's largest economy. Factory orders rose +2.5% in October, a plus of +1.4% compared with September. Analyst's forecasted an increase of +0.6%. Markets are now awaiting U.S. Nonfarm Payrolls and the Unemployment Rate being published at 13:30 GMT, average earnings and factory orders and Eurozone's GDP earlier in the session at 10:00 GMT.

The FTSE 100 index is currently trading +1.03% quoted at 6,731.94 points, Germany's DAX 30 added +1.25% at 9,974.50, just below the important 10,000 points level. France's CAC 40 gained +1.21%, currently trading at 4,376.98 points.