European stocks were little changed, paring earlier gains, amid investor expectations of an announcement on quantitative easing from the European Central Bank this week.
The Stoxx Europe 600 Index added less than 0.1 percent to 352.52 at 9:42 a.m. in London, after earlier gaining as much as 0.5 percent. Stocks climbed to a 7-year high on Friday as rising oil producers outweighed a slump in Swiss shares. Switzerland™s SMI Index rebounded 3.2 percent today after posting its worst week since 2008 following the Swiss National Bank™s surprise move to end a cap on the franc.
Mario Draghi will make his biggest push yet to steer the euro area away from deflation by announcing quantitative easing on Jan. 22, according to 93 percent of respondents in a Bloomberg News survey. The ECB president will probably announce a 550 billion-euro ($639 billion) bond purchase program, economists say. That would top the 500 billion euros in models presented to officials this month.
U.S. stocks markets are closed for Martin Luther King Jr. Day. Asian shares gained, even as China™s Shanghai Composite Index headed for its biggest drop since 2008, after three of the nation™s biggest brokerages were stopped from adding margin-trading accounts.
Source : Bloomberg