Investing.com - German business confidence improved to the highest level in seven months in February, easing concerns over the health of the euro zone’s largest economy, industry data showed on Monday.
In a report, the German research institute, Ifo said its Business Climate Index rose to a seasonally adjusted 106.8 this month, up from a reading of 106.7 in January but below forecasts for 107.7.
The Current Assessment Index declined to 111.3 in February from 111.7 in January, missing expectations for a reading of 112.7.
The Business Expectations Index, which measures attitudes toward business prospects over the next six months, improved to 102.5 this month from 102.0 in January, trailing estimates for 103.0.
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 1.1329 from around 1.1342 ahead of the release of the data, while EUR/GBP was at 0.7368 from 0.7378 earlier.
Meanwhile, European stock markets were mixed. Germany's DAX tacked on 0.7%, the EURO STOXX 50 rose 0.85%, France’s CAC 40 advanced 0.65%, while London’s FTSE 100 declined 0.1%.