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
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