February 09, 2012, 5:10 AM EST

By Adria Cimino

Feb. 9 (Bloomberg) — Stocks in Europe rose before the European Central Bank and the Bank of England announce policy decisions and as Greek leaders debated an austerity package. U.S. index futures and Asian shares were little changed.

Daimler AG, the maker of Mercedes-Benz cars, jumped to its highest in six months after reporting a 39 percent increase in quarterly profit. Hugo Boss AG climbed after fourth-quarter operating profit beat estimates. Credit Suisse Group AG fell 2.3 percent after posting an unexpected loss.

The Stoxx Europe 600 Index advanced 0.5 percent to 264.3 at 9:40 a.m. in London. The benchmark measure has rallied 23 percent from last year’s low and 8.1 percent this year as investors speculated that Greece will accept the spending cuts needed to obtain further aid. Futures on the Standard & Poor’s 500 Index expiring in March and the MSCI Asia Pacific Index added 0.1 percent each.

“We’ve seen a bit more confidence creeping into the markets,” Justin Urquhart Stewart, who helps oversee about $3 billion at 7 Investment Management in London, said in a Bloomberg Television interview. “We are seeing shafts of light in the leaden sky coming through in the euro zone.”

ECB policy makers meeting in Frankfurt today will keep the benchmark interest rate at a record low of 1 percent, according to 55 of 57 economists in a Bloomberg News survey. Two predict a cut to 0.75 percent. The decision will be announced at 1:45 p.m. and ECB President Mario Draghi will address journalists 45 minutes later.

U.K. Asset Purchase

Separately, the Bank of England will probably expand its asset-purchase program by 50 billion pounds ($79 billion), according to another Bloomberg survey. That decision is due at noon in London.

Greek Finance Minister Evangelos Venizelos said there is still uncertainty on the terms of a 130 billion-euro ($172 billion) rescue package for his country before a meeting of euro area finance ministers today.

“There are issues outstanding that must be resolved by the time the eurogroup meets,” Venizelos told reporters.

Greece faces a 14.5 billion-euro bond payment on March 20 and is struggling to obtain financing to avert a collapse of the economy that could spark a new round of contagion in the euro area.

Earnings Surprises

Of the 108 Stoxx 600 companies that have reported quarterly earnings since Jan. 9, 54 missed analysts’ estimates, compared with 49 that beat projections, according to data compiled by Bloomberg.

“Figures aren’t that bad,” Stewart said. “Companies are honest about write-offs and this is logical.”

Daimler jumped 4.4 percent to 46.60 euros, its highest since Aug. 3. The company reported a 39 percent increase in fourth-quarter profit, boosted by demand for the revamped M- Class sport-utility vehicle. Earnings before interest and taxes rose to 2.18 billion euros, exceeding the 2.17 billion-euro average estimate of 12 analysts surveyed by Bloomberg.

Preference shares of Hugo Boss rose 0.9 percent to 77.48 euros. The German luxury clothier controlled by buyout firm Permira Advisers said earnings before interest, taxes, depreciation, amortization and one-time items increased to 97 million euros from 77 million euros in the year-earlier period. That beat the 86.4 million-euro average estimate of eight analysts.

Arkema rose 3.4 percent to 67.03 euros. The chemical maker was raised to “overweight” from “equal weight” at Morgan Stanley.

Credit Suisse

Credit Suisse declined 2.3 percent to 24.65 Swiss francs. Switzerland’s second-biggest lender said it had a loss in the fourth quarter for the first time since 2008, hurt by “adverse markets” and costs to reorganize the investment bank.

The net loss amounted to 637 million francs ($698 million). That was wider than the 446 million-franc mean profit estimate of nine analysts.

ING Groep NV tumbled 4.1 percent to 6.96 euros. The biggest Dutch financial-services company posted a fourth-quarter profit that missed forecasts after reporting a hedging loss and taking a charge on its U.S. insurance business.

Rio Tinto Group dropped 1.3 percent to 3,823 pence. The world’s third-largest mining company swung to a second-half loss, its first in four years, after taking a $8.9 billion one- time charge on the value of its aluminum business.

GDF Suez SA lost 4.1 percent to 20.45 euros. The operator of Europe’s biggest natural-gas network reported a 13 percent drop in full-year net profit after mild weather and a regulated rate freeze in France crimped earnings.

Nobel Biocare Holding AG fell 8.9 percent to 11.43 francs. The world’s second-biggest dental implant maker reported an increase in fourth-quarter profit as demand improved, driven by North America. Net income rose to 13.3 million euros from 5.2 million euros a year earlier. The earnings missed the average estimate of 18.1 million euros from eight analysts.

–Editors: Srinivasan Sivabalan, Andrew Rummer

To contact the reporter on this story: Adria Cimino in Paris at acimino1@bloomberg.net

To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net