European Stock Futures Climb as Japan Unveils Stimulus

European stock futures climbed as Japan’s government advocated a $116 billion stimulus package to drag the world’s third-biggest economy out of its recession. U.S. index futures and Asian shares were little changed.

SAP AG (SAP) may move after unveiling the most significant overhaul of its enterprise software system in two decades. Bunzl Plc (BNZL) might advance as Goldman Sachs Group Inc. upgraded its recommendation for the world’s largest distributor of disposable tableware and food packaging.
Futures on the Euro Stoxx 50 Index, a benchmark for the euro area, added 0.4 percent to 2,711 at 7:11 a.m. in London. Contracts on the U.K.’s FTSE 100 Index gained 0.2 percent. The Stoxx 600 climbed to its highest level since February 2011 last week after U.S. politicians agreed on a compromise budget. Futures on the Standard & Poor’s 500 Index expiring in March lost less than 0.1 percent and the MSCI Asia Pacific Index slipped 0.1 percent.

European (SXXP) stocks declined from a 22-month high yesterday as European Central Bank policy makers left their benchmarkinterest rate at a record low.

“The market will find some support today as it has been reassured by the massive economic support by the Japanese government,” said John Plassard, vice president at Mirabaud Securities LLP in Geneva. “However, we might still see slight profit taking in the next few days.”
In Japan, Prime Minister Shinzo Abe said the country will spend 10.3 trillion yen ($116 billion) to accelerate a recovery from recession as speculation rose that the Bank of Japan will increase monetary easing.

To contact the reporter on this story: Corinne Gretler in Zurich at cgretler1@bloomberg.net