Investing.com – German business confidence fell slightly more-than-expected in April, industry data showed on Thursday.
In a report, the German research institute, Ifo said its Business Climate Index fell to a seasonally adjusted 110.4 in April, after advancing to 111.1 in March.
Analysts had expected the index to decline to 110.5 in April.
The Current Assessment Index rose to 116.3 from 115.8, confounding expectations for a drop to 115.5. The Business Expectations Index fell to 104.7 from 106.5 in March, more than the expected decline to 105.5.
Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD gaining 0.73% to hit 1.4628.
Meanwhile, European stock markets were higher after the open. The EURO STOXX 50 climbed 0.41%, France’s CAC 40 rose 0.32%, the FTSE 100 was up 0.22%, while Germany's DAX advanced 0.43%.
In a report, the German research institute, Ifo said its Business Climate Index fell to a seasonally adjusted 110.4 in April, after advancing to 111.1 in March.
Analysts had expected the index to decline to 110.5 in April.
The Current Assessment Index rose to 116.3 from 115.8, confounding expectations for a drop to 115.5. The Business Expectations Index fell to 104.7 from 106.5 in March, more than the expected decline to 105.5.
Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD gaining 0.73% to hit 1.4628.
Meanwhile, European stock markets were higher after the open. The EURO STOXX 50 climbed 0.41%, France’s CAC 40 rose 0.32%, the FTSE 100 was up 0.22%, while Germany's DAX advanced 0.43%.