European shares up for 6th day ahead of ECB decision

jueves 22 de enero de 2015 04:52 GYT
 

* FTSEurofirst 300 up 0.2 pct ahead of ECB decision

* All eyes on size, details of expected stimulus programme

* Greek banks bounce as emergency line granted

By Francesco Canepa

LONDON, Jan 22 (Reuters) - European shares rose for a six straight day early on Thursday as investors bet on the size and shape of a sovereign bond-buying programme the European Central Bank will set out later in the day.

Market expectations are sky-high for the ECB to unveil a large-scale programme of quantitative easing (QE). A euro zone source said on Wednesday the Executive Board proposed that the bank should buy 50 billion euros ($58 billion) in bonds per month from March.

A Reuters poll of money market traders on Monday showed they expected a 600-billion-euro bond-buy plan, though they also believed that would not be enough to return inflation to target.

"At the moment we are pretty much flat (on our trading book)," Markus Huber, a senior trader at Peregrine & Black, said.

"QE itself is in the market except its size and how long it will last. Anything less than 500 billion euros would be definitely a disappointment (and) if it's just a year, that's also already in the market."   Continuación...