European indices added the most in three weeks as data from Eurostat on Eurozone's Consumer Price Inflation showed a negative reading for the first time since October 2009 when it was -0.1%. Consumer prices fell more-than-expected to -0.2%. Analyst forecasted a flat reading of 0.0% in December after +0.2% in November. Disinflation adds pressure on the ECB to start quantitative easing measures rather sooner than later as the ECB wants to keep inflation below but close to 2 percent over the medium term.

The Unemployment Rate in Germany fell to 6.5%, a record low, beating forecast of 6.6%. Last month's reading was 6.6%. Eurozone's Unemployment Rate stayed at 11.5% in line with estimates.

The minutes from December's Federal Reserve policy meeting are due later in the day at 19:00 GMT. The minutes may give further indication on the FED's 'patient' approach on rising benchmark interest rates for the first time since 2006.

In today's session the FTSE 100 index added +0.86% quoted at 6,421.14. France's CAC 40 gained +1.14% trading at 4,130.20. Germany's DAX 30 is currently trading +1.01% at 9,565.64 points.