European Sentix Investor Confidence Rises to Seven-Month High
European investor confidence rose to a seven-month high in February after the European Central Bank’s liquidity measures soothed credit-crunch concerns, the Sentix research institute said.
An index measuring sentiment in the 17-nation euro area increased to minus 11.1 from minus 21.1 in January, Limburg, Germany-based Sentix said in an e-mailed statement today. A gauge of expectations surged to minus 6.3 from minus 23.5, while an indicator for current conditions rose to minus 15.8 from minus 18.8.
The ECB’s three-year loans to banks were “apparently a game-changer for investors,” Sentix said in the statement. “Most recent data suggest that markets will face further positive economic surprises.”
Business confidence in Germany, Europe’s largest economy, jumped to a five-month high in January and bond yields from Italy to Spain are sliding, adding to signs the region will avoid a protracted recession. The ECB will hold another three- year tender on Feb. 28 after banks snapped up a record 489 billion euros ($639 billion) in December.
Sentix said 956 investors participated in its monthly survey, which was conducted Feb. 2-4. The results are never revised.
To contact the reporter on this story: Jana Randow in Frankfurt at jrandow@bloomberg.net
To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net
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