It is understood there has been no contact between the clubs, relating to Davies, since and Ancelotti says Everton are not currently entertaining the idea of letting Davies leave - even on loan.
"No, we didn't think about this," Ancelotti said.
"Tom Davies is a part of this squad, of this team. He didn't play a lot in the last game but he is always ready. He played 30 minutes in the past game and he did well.
"We have confidence [in him] and we are not thinking about letting him leave on loan because I think he is an important part of our squad."