All eyes on Mario Draghi speech as US markets shut for President 8217 s Day

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- Stocks across Europe are little changed this morning in what could potentially be a quiet day in volatility, with the US on a bank holiday celebrating President’s Day.

- The FTSE 100 edged lower on Monday, trading at 6314, with the benchmark index struggling to break through fresh five-year highs as investors temper long-term bullishness with short-term caution.

- Elsewhere in Europe Calsberg, the world’s fourth largest brewery listed on the Stockholm Exchange, topped the faller’s chart after reporting forecasts lagging results during its fourth quarter, resulting in shares dropping 4.7%.

- Over the weekend the Group of 20 nations declared on Saturday that there would be no currency war and deferred plans to set new debt-cutting targets, underlining broad concerns about the fragile state of the world economy.

- However, equity traders saw little impact on stocks from the G20 meeting and added that the market holiday in the United States today might also leave some investors on the sidelines.

- Futhermore there is no expected economic data out today, however, ECB President Mario Draghi is due to make a speech at 2.30pm UK time, which always has the potential to be a market mover.

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