The markets get a nice surprise from theIfo index of Germany. After six months of decline, in November the indicator that measures confidence in German businesses rose to 104,7 points from 103,2 in October.
The number beat analysts' estimates, who had expected a substantially flat reading at 103,0 points.
The index on the current situation advanced from 108,4 to 110 points and that on expectations rose from 98.3 to 99,7 points.
Immediately after the publication of these data, the main European stock exchanges accelerated upwards: Frankfurt +0,6%, Paris +0,86% and Milan +0,5%. Flat instead London.
