European
stocks advanced for a fourth day, extending their highest level in
seven years, amid speculation that the European Central Bank will
announce a plan for quantitative easing this week.
The
Stoxx Europe 600 Index added 0.8 percent to 355.96 at the close of
trading, after earlier rising as much as 1.2 percent. Banks and miners
led gains among 19 industry groups. The benchmark gauge has rallied 4.8
percent in the four days since the Swiss central bank unexpectedly
abandoned its currency peg against the euro, a move that increased
speculation of a government-bond buying program from the ECB.
ECB
President Mario Draghi will make his biggest push yet to steer the euro
area away from deflation by introducing quantitative easing at the Jan.
22 meeting, 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.
Source : Bloomberg
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