European shares gyrate as ECB keeps investors on tenterhooks

miércoles 21 de enero de 2015 11:57 GYT

* FTSEurofirst 300 up 0.2 pct, rises for 5th day

* Erases early losses on ECB stimulus speculation

* Greek shares fall as Syriza party extends lead

* SGS down 7 percent after cutting growth targets

By Francesco Canepa and Blaise Robinson

LONDON/PARIS, Jan 21 (Reuters) - European shares edged up in nervous, choppy trade on Wednesday as speculation mounted about the size and timing of a sovereign bond buying programme expected to be unveiled by the European Central Bank (ECB) this week.

A euro zone source told Reuters on Wednesday the ECB's Executive Board has proposed that the bank buy 50 billion euros ($58 billion) in bonds per month from March.

The FTSEurofirst 300 index of top European shares erased its losses after the report to trade 0.2 percent higher at 1,425.45 points at 1545 GMT. The index briefly traded as much as 0.5 higher.

"(The 50 billion-euro figure) at a minimum, meets expectations," Dan Greenhaus, chief strategist at BTIG, said. "(But) If this means the ECB is considering, or would implement, an open-ended form of QE (quantitative easing), well then that's a whole other ballgame."   Continuación...