On Thursday European stocks rose for the first time in four days and the euro strengthened as regional finance ministers prepared for talks on a Greek bailout. Greek Finance Minister Evangelos Venizelos heads to the meeting in Brussels today after politicians failed to finalize new austerity measures needed to secure a 130 billion-euro ($173 billion) rescue package.
European Central Bank President Mario Draghi will probably face questions today on the bank’s possible role in helping Greece cut its debt following a policy meeting. The Stoxx Europe 600 Index added 0.2 percent at 6:15 a.m. in New York, while Standard & Poor’s 500 Index futures lost 0.2 percent.
Credit Suisse Group AG (CSGN), the second- biggest Swiss bank, had a loss in the fourth quarter for the first time since 2008, hurt by “adverse” markets and costs to reorganize the investment bank. Credit Suisse fell the most in five weeks in Zurich trading after posting a net loss of 637 million Swiss francs ($698 million), compared with an 841 million-franc profit in the year- earlier period. That missed the 446 million-franc average profit estimate of the analysts.
China’s inflation unexpectedly accelerated in January on the boost to spending from a weeklong holiday, limiting room for monetary easing as Europe’s debt crisis damps exports and the property market cools. Exports in China probably declined in January after a slowdown in foreign trade in the second half of last year said Commerce Minister Chen Deming. The data are due tomorrow, with analysts forecasting a 1.4 percent decline in overseas shipments from a year earlier.