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By Bloomberg

European stocks climbed for a seventh day amid optimism the European Central Bank’s quantitative-easing measures will spur economic growth in the region.

The Stoxx Europe 600 Index rose 1.3 percent to 368.94 at 9:15 a.m. in London. The benchmark gauge gained on Thursday after the ECB President Draghi announced an asset-purchase program including private and public securities for 60 billion euros ($68 billion) a month from March through September 2016. That’s around 1.1 trillion euros.

“The strong commitment from Draghi to wipe out fears about the euro zone’s sustainability is good news,” said Pierre Mouton, who helps oversee $8 billion at Notz, Stucki & Cie. in Geneva. “Liquidity to the banking system should improve credit conditions, and thus economic growth. That will benefit equities. The simple fact that the ECB has given a time frame and the size of its QE is very helpful. Investors know they’ll be helped by the ECB for the next 18 months at least.”

The Stoxx 600 is heading for a second weekly gain. Speculation leading up to Draghi’s announcements has pushed the benchmark gauge up 8.6 percent since Jan. 14. That’s the biggest seven-day rally since December 2011. The Swiss National Bank’s unexpected move to abandon its currency peg against the euro last week increased speculation the ECB will expand stimulus to avert deflation.

In the U.S., three rounds of Federal Reserve stimulus helped the Standard & Poor’s 500 Index more than triple from its March 2009 low to a record on Dec. 29. The central bank ended its QE program three months ago.

Spain, Greece

Spain’s IBEX 35 Index jumped 1.3 percent, extending gains this week to the most since September 2012, as yields on the nation’s 10-year bonds fell to a record low.

Greece’s ASE Index surged 4.2 percent for the biggest gain among 18 western European markets. The benchmark gauge has still tumbled 20 percent from a Dec. 8 high amid concern the country’s anti-bailout party will win in elections on Jan. 25.

Some stocks rose on mergers-and-acquisitions activity. Telefonica SA added 2.9 percent. Hutchison Whampoa Ltd. said it has entered exclusive negotiations to buy O2, Telefonica’s U.K. wireless carrier, for as much as 10.25 billion pounds ($15 billion).

Portugal Telecom SGPS SA jumped 14 percent after its shareholders approved a 7.4 billion-euro sale of Oi SA’s Portuguese telecommunications assets to Altice SA. Portugal Telecom is a minority investor in Oi and its shareholders had the right to block the sale.

Novo Nordisk A/S rose 1.1 after the European Medicines Agency gave a positive opinion for use of its Saxenda drug to be used along with a lower calorie diet and increased exercise for weight management.

Thales SA fell 3.8 percent after saying it expects a reduction in 2014 profit because of losses at DCNS, the warship maker in which it owns a 35 percent stake.