European indices inch up in early trading on Monday fuelled by expectations that the ECB will embark into quantitative easing after its upcoming policy meeting on January 22^nd. An interim ruling by the European Court of Justice stated that QE is "in principle" in line with European legislation. The CAC40, the DAX and FTSE100 extend last week's strong gains. Eurozone's adjusted Current Account declined with a reading of 18.1 billion euro. Analysts expected an increase to 21.3 from a previous reading of 20.5 billion.

The FTSE 100 index is currently trading +0.53% quoted at 6,585.20 points, Germany's DAX 30 added +0.74% trading at 10,242.52, slightly below the new all-time high. France's CAC 40 gained +0.17%, currently trading at 4,387.19 points.

Market participants are looking forward to the publication of the Bundesbank Monthly Report. U.S. markets are closed today due to a bank holiday.