European stocks retreat from 11-month tops ahead of ECB

Following a slide close on the Asian indices and Wall Street at record-highs, the European equity markets kicked-off Thursday on a firmer footing, taking on its winning streak into a fourth day today.

However, nervousness quickly crept in across the markets and the region’s indices pared gains, as investors took profits off the table ahead of the ECB policy decision, with wide expectations of an extension to its QE program. ECB to embark on a taper course, reducing monthly purchases to €60 billion - Citi

Also, a broadly higher euro weighed on the exporters’ stocks and dragged the index lower, although the downside seems cushioned on the back of hopes of additional easing measures from the ECB and positive oil prices.

Meanwhile, Germany's DAX 30 index rises +0.27% to 11,018 levels, while the UK's FTSE 100 index trades marginally lower at 6,895. Among the other indices, the French CAC 40 index trades muted around 4,694 while the pan-European Euro Stoxx 50 index gains +0.18% to 3,145 points.