Balloons fly during the 32nd annual QuickChek New Jersey Festival of Ballooning in Readington, New Jersey July 25, 2014.

REUTERS/Eduardo Munoz

European markets are climbing.

European stock markets are rebounding on Wednesday after a downbeat end to trade on Tuesday.

Here’s a snapshot of Europe at 8.20 a.m. BST (3.20 a.m. ET):

UK FTSE 100: +1.67%, +98.76 at 6008.00

French CAC 40: +2%,+86.77 at 4,430.50

German DAX: +1.98%, +187.10 at 9,637.50

Euro Stoxx 50: +2.12%, +64.14 at 3,094.00

Traders are putting the bounce on a strong session for markets in Asia and the US overnight. Here’s Accendo Markets’ head of research Mike van Dulken:

The positive opening call comes after Asian bourses recouped some of yesterday’s losses to close out a highly volatile quarter following a more solid US session thanks to a late rally. Hopes of more stimulus are offsetting IMF warnings on Emerging markets and their debt load ahead of a US rate rise sometime on the next year.

In London the market is being helped by a rebound for Glencore and better than expected figures from Sainsbury’s. Sainsbury’s is up 11%, while rival Tesco is up 4% and Morrisons is up 5.5%.

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