Stock indices traded higher, ECB's further stimulus measures still supports. The European Central Bank (ECB) President Mario Draghi said at the press conference last Thursday that the central bank will launch an expanded asset purchase programme of 60 billion euro a month starting from March 2015 until September 2016.

Markets were also supported by the better-than-expected German Ifo business climate index. The index rose to 106.7 in January from 105.5 in December, exceeding expectations for a rise to 106.2.

Markets shrugged off concerns over Greek parliament election results. Syriza party won the country's parliament elections on Sunday. The party won 149 seats in the 300-seat parliament.

Syriza has pledged to renegotiate the terms of the country's €240 billion euro financial bailout and to reverse many of the austerity measures.

Indexes on the close:

Name Price Change Change %

FTSE 100 6,852.4 +19.57 +0.29%

DAX 10,798.33 +148.75 +1.40%

CAC 40 4,675.13 +34.44 +0.74%

Syriza party won the parliament elections in Greece on Sunday. The party has pledged to renegotiate the terms of the country's €240 billion euro financial bailout and to reverse many of the austerity measures.

Syriza won 149 seats in the 300-seat parliament. The party has missed an outright majority.

Syriza's leader Alexis Tsipras, who could become Greece's next prime minister, agreed on Monday to team up with a right-wing party Independent Greeks party. The Independent Greeks party also wants to reject the austerity measures imposed on Greece by its creditors.

The Independent Greeks party won 13 seats.

Dow 17,634.49 -38.11 -0.22%

Nasdaq 4,746.17 -11.71 -0.25%

S&P 500 2,047.15 -4.67 -0.23%

10 Year Yield 1.81% -0.01 --

Gold $1,286.20 -6.40 -0.50%

Oil $45.72 +0.13 +0.29%

U.S. stock-index futures were little changed on speculation fallout from the election of the anti-austerity Syriza party in Greece will be contained.

Global markets:

Nikkei 17,468.52 -43.23 -0.25%

Hang Seng 24,909.9 +59.45 +0.24%

Shanghai Composite 3,383.94 +32.18 +0.96%

FTSE 6,832 -0.83 -0.01%

CAC 4,658.78 +18.09 +0.39%

DAX 10,753.11 +103.53 +0.97%

Crude oil $45.75 (+0.35%)

Gold $1286.00 (-0.50%)

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European indices continue to rally despite the Greek vote after the ECB unveiled a large scale quantitative easing program of 60 billion euro a month starting from March 2015 until September 2016 - a stimulus program well above expectations. The euro dropped to a low at USD1.1097 on concerns the Greek elections result could lead to instability in Europe but recovered during the session. The anti-austerity party Syriza won a decisive victory within 2 seats of the absolute majority. Alexis Tsirpas, the new Prime Minister, has pledged to keep Greece within the monetary union but wants to renegotiate Greek debt.

Today a set of data on Business Climate, Current Assessment and Expectations coming from the German Institut für Wirtschaftsforschung, a research institute, was released at 09:00 GMT. German Business Climate in January improved to the highest in 6 months beating expectations. The Index added 1.7 points from a previous reading of 105.5 to 106.7. Economists expected an increase to 106.2. The solid data eases concerns over the health of Eurozone's biggest and most important economy .The Current Assessment index improved to 111.7, 1.1 points above expectations of 110.6 points and a previous reading of 110.0. IFO-Expectations reflecting attitudes toward business prospects improved to 102.0 - missing forecasts of 106.2.

In today's session the commodity heavy FTSE 100 index is trading -0.38% quoted at 6,806.75 as miners and energy shares weigh. France's CAC 40 added +0.20% trading at 4,649.98. Germany's DAX 30 is currently trading +0.69% at 10,723.25 points after solid IFO data at a new all-time high fuelled not only by the ECB's stimulus but also by a weakening euro and falling oil prices.

Today a set of data on Business Climate, Current Assessment and Expectations coming from the German Institut für Wirtschaftsforschung, a research institute, was released at 09:00 GMT. German Business Climate in January improved to the highest in 6 months beating expectations. The Index added 1.7 points from a previous reading of 105.5 to 106.7. Economists expected an increase to 106.2. The solid data eases concerns over the health of Eurozone's biggest and most important economy.

The Current Assessment index improved to 111.7, 1.1 points above expectations of 110.6 points and a previous reading of 110.0.

IFO-Expectations reflecting attitudes toward business prospects improved to 102.0 - missing forecasts of 106.2.

The German DAX 30 is trading close to an all-time high hit on Friday.

Last week European indices were boosted after the European Central Bank unveiled plans for a large scale quantitative easing program of 60 billion euro a month starting from March 2015 until September 2016 - a stimulus program well above expectations. On Monday indices retreated as market sentiment weakened after the anti-austerity party Syriza only fell short of 2 seats of an absolute majority in Greek parliament. The result fuelled concerns over political and economic instability in the Eurozone although Alexis Tsirpas, the new Greek Prime Minister, has pledged to keep Greece within the monetary union but wants to renegotiate Greek debt.

The commodity heavy FTSE 100 index is currently trading -0.36% quoted at 6,808.08 points weighed down by losses in mining and energy shares. Germany's DAX 30 added +0.25% trading at 10,676.36 after retreating from an all-time high. France's CAC 40 declied by -0.02%, currently trading at 4,639.66 points.

U.S. markets closed lower on Friday with disappointing corporate news. The DOW JONES index declined by -0.79%, closing at 17,672.60. The S&P 500 lost -0.55% with a final quote of 2,051.82 points weighed down by commodity shares. For the week the DOW JONES rose 0.9%, the S&P 500 added 1.6%. Markets were supported by the ECB decision on large-scale quantitative easing.

Chinese stock markets rise on Monday. Hong Kong's Hang Seng is trading +0.07% at 24,868.07 points. China's Shanghai Composite closed at 3,383.94 points +0.96%.

Japan's Nikkei lost on Monday after a weekly gain, closing -0.25% with a final quote of 17,468.52 weighed down by the results of the Greek snap-elections where the anti-austerity party Syriza scored a win within 2 seats of the absolute majority. A stronger Japanese yen weighed on exporter shares. The Adjusted Merchandise Trade Balance rose from -925.01 to -712.1 billion on Sunday and Japan's exports rose more-than-expected by 12.9% in December driven by a weaker Japanese Yen.

(index / closing price / change items /% change)

Nikkei 225 17,511.75 +182.73 +1.05%

Hang Seng 24,850.45 +327.82 +1.34%

S&P/ASX 200 5,501.82 +81.88 +1.51%

FTSE 100 6,832.83 +36.20 +0.53%

CAC 40 4,640.69 +87.89 +1.93%

Xetra DAX 10,649.58 +213.96 +2.05%

S&P 500 2,051.82 -11.33 -0.55%

NASDAQ Composite 4,757.88 +7.48 +0.16%

Dow Jones 17,672.6 -141.38 -0.79%