Business confidence plummets in Germany. The Zew index, which measures the confidence climate of German companies, is collapsed in July to -6,8 from 19,2 in June. The index fell far below expectations which envisaged a downsizing of the Zew within a range between 6 and 9 in July.
The climate of business confidence in Germany has therefore been heavily affected by the volatility on the financial markets that has arisen for the uncertainty of the management of Brexit after the British vote. The index on the current situation of the country fell to 49,8 from 54,5 in June, also below analysts' expectations.
In the wake of this result, today at the end of the morning Frankfurt Stock Exchange it is among the worst in Europe: it loses 1,2%, around 11,30 only Piazza Affari is worse.
