An important signal to the markets comes from Germany. in May theIfo index, which measures the level of German business confidence, reached the peak of 114,6 points. It's about a record result, never achieved before, which surprised the experts a lot.
In April, the index stood at 113 points (data revised slightly upwards from 112,9 points in the first reading) and for this month analysts had forecast a minimal variation, at 113,1 points.
More specifically, the sub-index relating to current conditions rose to 123,2 points from 121,1 in April, also in this case exceeding the consensus (121,2), while the index on expectations rose from 105,2 to 106,5, against forecasts that on average did not go beyond 105,4.
In mid-morning, the Frankfurt Stock Exchange gained 0,43%, in line with the positive trend of the other European stock exchanges.
