Traders meanwhile awaited Wednesday's publication of the Federal Reserve's periodic Beige Book assessment of US regional economies.
London's benchmark FTSE 100 index added 0.97 percent to 6,022.64 points in midday trade, Frankfurt's DAX 30 increased 1.03 percent to 7,176.29 points and in Paris the CAC 40 won 0.81 percent to 4,008.72.
The Stoxx 50 index of leading eurozone companies gained 0.72 percent to 2,953.47 points.
In foreign exchange deals, the euro climbed back above $1.45 Wednesday on waning expectations that the Federal Reserve would soon follow the European Central Bank in raising interest rates to fight high inflation.
"Across the Atlantic, the US reporting season continues, with analysts expecting JPMorgan will report a 50-percent-plus increase in first-quarter profit before the opening bell," said IG Index sales trader Will Hedden.
"The Fed's Beige Book is also due for release today, and it's felt the central bank's anecdotal roundup will be given more significance than usual given the serious concerns about inflationary pressure on the markets."
Asian stock markets meanwhile rose on Wednesday as dealers sought bargains after two days of big losses, but investors remained cautious amid ongoing uncertainty over Japan's nuclear crisis.
Tokyo rose 0.90 percent, as a weaker yen supported exporters, while Hong Kong gained 0.66 percent, Sydney added 0.25 percent, Seoul jumped 1.56 percent and Shanghai increased by 0.96.
However, sentiment was tempered by Japan's decision Tuesday to raise the crisis level at the Fukushima Daiichi nuclear plant to the same as Chernobyl in 1986, after a series of strong aftershocks from the March 11 quake.
Asian markets were sent tumbling after the tremors on Monday and Tuesday, which renewed concerns over Japan's economic outlook.
"The situation in the Fukushima plant will keep drawing the market's attention," said Bank of Tokyo-Mitsubishi UFJ analyst Teppei Ino.
Despite the concerns TEPCO, which operates the troubled plant, ended 11.55 percent higher at 502 yen following a report that other Japanese utilities may be called on to help the firm with compensation payments. However, TEPCO has lost around 80 percent since March 10.