The FTSE 100 is up on the day, while the DAX dipped on a weaker than expected Ifo reading and as the EUR is once again above 1.18 against the USD. More growth optimism from the ECB, but with Draghi remaining focused on still low inflation, that doesn't change the still relatively dovish stance as net asset purchases will continue next year, albeit at a slower pace. The current conditions indicator still improved, but the expectations index fell back to 109.5, thus cancelling out the sharp jump in November, which always looked somewhat suspicious.