Investing.com - Investor confidence in the euro zone for May deteriorated more-than-expected, slumping to the lowest level since July 2009 and remaining in negative territory for the tenth consecutive month, data showed on Monday.
In a report, market research group, Sentix said its index of investor confidence declined by 9.8 points to minus 24.5 in May from April’s reading of minus 14.7.
Analysts had expected the index to decline by 1.0 point to minus 15.7 in May.
On the index, a level above 0.0 indicates optimism, below indicates pessimism.
Following the release of the data, the euro remained lower against the U.S. dollar, with EUR/USD shedding 0.56% to trade at 1.3011.
Meanwhile, European stock markets held on to sharp losses. The EURO STOXX 50 retreated 1.4%, France's CAC 40 dropped 1.2%, Germany's DAX slumped 1.6%, while London’s FTSE 100 remained closed for a holiday.
In a report, market research group, Sentix said its index of investor confidence declined by 9.8 points to minus 24.5 in May from April’s reading of minus 14.7.
Analysts had expected the index to decline by 1.0 point to minus 15.7 in May.
On the index, a level above 0.0 indicates optimism, below indicates pessimism.
Following the release of the data, the euro remained lower against the U.S. dollar, with EUR/USD shedding 0.56% to trade at 1.3011.
Meanwhile, European stock markets held on to sharp losses. The EURO STOXX 50 retreated 1.4%, France's CAC 40 dropped 1.2%, Germany's DAX slumped 1.6%, while London’s FTSE 100 remained closed for a holiday.