European stocks were little changed, erasing earlier gains, as falling oil prices and concern over Greece possibly leaving the European single-currency union offset speculation of increased European Central Bank stimulus.
The Stoxx Europe 600 Index dropped less than 0.1 percent to 341.25 at 9:11 a.m. in London, erasing gains of as much as 0.5 percent. Stocks had earlier fallen 0.4 percent.
Germany’s Der Spiegel magazine reported that Chancellor Angela Merkel is ready to accept a Greek euro exit as the Mediterranean nation gears up for elections in three weeks.
Prime Minister Antonis Samaras said Greece would be driven into default and out of the 19-nation European single currency by the policies of Syriza, the opposition party that is leading polls on promises to raise wages, increase government jobs and persuade the euro area to write off some Greek debt.
Investors will be watching for data this week that are forecast to show consumer prices in Europe fell for the first time in five years last month, adding to the argument for ECB President Mario Draghi to extend stimulus measures with quantitative easing.
Standard & Poor’s 500 index futures fell less than 0.1 percent today. The MSCI Asia Pacific Index (MXAP) slid 0.7 percent, led by a decline in Japanese shares as trading resumed after a three-day holiday.
Energy companies, including Total SA and BP Plc, posted the biggest loss of the 19 industry groups on the Stoxx 600 after oil fell for a third day. Crude extended its drop from the lowest close since 2009 after Iraq, the second-largest producer in the Organization of Petroleum Exporting Countries, said it will boost exports this month.
Sanford C. Bernstein cut its Brent forecasts for this year, citing increases in global spare capacity and rising inventories.
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