Investing.com - German business confidence in December improved to the highest level since February 2014, suggesting company owners were not affected by Donald Trump’s victory in the U.S., industry data showed on Monday.
In a report, the German research institute, Ifo said its Business Climate Index rose to a seasonally adjusted 111.0 this month from a reading of 110.4 in November, above forecasts for 110.7.
The Current Assessment Index increased to 116.6 in December from 115.6 a month earlier and beating expectations for 115.9.
The Business Expectations Index, which measures attitudes toward business prospects over the next six months, inched up to 105.6 this month from 105.5, in line with expectations.
The monthly index is based on a survey of around 7,000 German firms in the manufacturing, construction, wholesale and retail sectors.
EUR/USD was trading at 1.0468 from around 1.0464 ahead of the release of the data, while EUR/GBP was at 0.8381 from 0.8377 earlier.
Meanwhile, European stock markets were marginally lower. Germany's DAX shed 0.1%, the EURO STOXX 50 dipped 0.1%, France’s CAC 40 slipped 0.3%, while London’s FTSE 100 inched down 0.2%.