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By Bloomberg

European stocks were little changed, after rising to their highest level since 2008.

The Stoxx Europe 600 Index added less than 0.1 percent to 352.42 at 8:08 a.m. in London. Stocks climbed to a 7-year high on Friday as rising oil producers outweighed a slump in Swiss shares. Switzerland’s SMI Index rebounded 1.8 percent today after posting its worst week since 2008 following the Swiss National Bank’s surprise move to end a cap on the franc.

Investors will look to the European Central Bank this week for possible news on fresh stimulus measures. Mario Draghi will probably announce a 550 billion-euro ($635 billion) bond purchase program, economists say.

The ECB president will make his biggest push yet to steer the euro area away from deflation by announcing quantitative easing on Jan. 22, according to 93 percent of respondents in a Bloomberg News survey. The median estimate of the size of the package tops the 500 billion euros in models presented to officials this month.

U.S. stocks markets are closed for Martin Luther King Jr. Day. Asian shares gained, even as China’s Shanghai Composite Index headed for its biggest drop since 2008, after three of the nation’s biggest brokerages were stopped from adding margin- trading accounts.

Schindler Holdings AG added 3.8 percent after raising its profit estimate for 2014 to about 900 million francs ($1.04 billion) from as much as 865 million francs previously.

Telefonica SA rose 1.3 percent. Hutchison Whampoa Ltd. is exploring a purchase of the Spanish company’s wireless unit O2 in the U.K. as billionaire Li Ka-shing’s company weighs expansion in Europe, according to people familiar with the matter.

A measure of energy stocks declined, led by Royal Dutch Shell Plc and Eni SpA. Oil slid after capping its first weekly gain in two months, as investors weigh rising OPEC output against speculation supply from outside the group will slow.