Eurozone investor sentiment hits six-month high
Investor morale in the eurozone improved in May for the third month in a row to hit its highest level since November 2018, helped by a buoyant global environment and the danger of a disorderly Brexit being averted until October.
The Sentix research group said its investor sentiment index for the eurozone rose to 5.3 in May from -0.3 in April. Analysts had expected a reading of 1.4.
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"In May, the economic situation continued to improve globally, but also in Europe. Fears of a recession are thus receding into the background," said Sentix managing director Manfred Huebner.
Investor morale also improved in Germany, with an investor sentiment index for Europe's largest economy rising to 7.9. That's its highest since November 2018 and compared to 2.1 in April.
"Apparently, the spark from the Chinese economy, which has recovered significantly since the start of the year, is increasingly jumping over to the export-dependent German economy," said Mr Huebner.