Investing.com - German business confidence strengthened modestly in June, industry data showed on Monday.
In a report, the German research institute, Ifo said its Business Climate Index rose to a seasonally adjusted 105.9 in June from a reading of 105.7 in May, broadly in line with market expectations.
The Current Assessment Index declined to 109.4 from 110.0 in May, compared to expectations for a modest decline to 109.6.
The Business Expectations Index, which measures attitudes toward business prospects over the next six months, rose to 102.5 in June from 101.6, above expectations for a reading of 102.0.
The monthly index is based on a survey of around 7,000 German firms in the manufacturing, construction, wholesale and retail sectors.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.14% to trade at 1.3105.
Meanwhile, European stock markets remained mixed. The EURO STOXX 50 fell 0.2%, France’s CAC 40 dipped 0.2%, London’s FTSE 100 eased up 0.2%, while Germany's DAX tacked on 0.2%.
In a report, the German research institute, Ifo said its Business Climate Index rose to a seasonally adjusted 105.9 in June from a reading of 105.7 in May, broadly in line with market expectations.
The Current Assessment Index declined to 109.4 from 110.0 in May, compared to expectations for a modest decline to 109.6.
The Business Expectations Index, which measures attitudes toward business prospects over the next six months, rose to 102.5 in June from 101.6, above expectations for a reading of 102.0.
The monthly index is based on a survey of around 7,000 German firms in the manufacturing, construction, wholesale and retail sectors.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.14% to trade at 1.3105.
Meanwhile, European stock markets remained mixed. The EURO STOXX 50 fell 0.2%, France’s CAC 40 dipped 0.2%, London’s FTSE 100 eased up 0.2%, while Germany's DAX tacked on 0.2%.