BERLIN (Reuters) - Investor sentiment in the euro zone rose in June to its highest level in nearly a decade, underpinned by promising economic reports from the single currency bloc, a survey showed on Tuesday.
The Frankfurt-based Sentix research group’s euro zone index rose to 28.4 points from 27.4 in May, hitting its highest level since since July 2007. The June reading surpassed the consensus for a reading of 27.5 in a Reuters poll of analysts.
Investors viewed the euro zone’s current conditions more favourably, with a sub-index rising 36.0 from 34.5 in May.
“The assessment of the current situation climbs to the highest level since January 2008, underlining that it is not just ephemeral expectations, but increasingly hard data, that are driving the upswing in the eurozone,” Sentix said in a statement.
Expectations for economic developments in the euro zone edged up to 21.0 from 20.5.
An index tracking Germany, the euro zone’s largest economy, rose to 39.2 from 36.9 in May, its highest level since March 2015.
The reading chimed with the Ifo survey, which showed German business morale brightened more than expected in May, reaching its highest level on record since 1991.
Writing by Paul Carrel