The German Dax index has made gains in trading this afternoon (December 19th) after a report indicates German business confidence has advanced again.
According to the closely-watched report by Ifo, which is based on a survey of 7,000 companies, the country's companies are more optimistic about the nation's outlook.
The index rose by more than anticipated from a reading of 101.4 in November to 102.4, with manufacturer confidence making the biggest advances from month to month.
Ifo's expectations index increased from 95.2 to 97.9.
Analysts claimed the index indicates any anticipated contraction in Europe's largest economy will be short-lived.
Ifo's president Hans-Werner Sinn remarked: "As the year draws to a close, German companies are more confident about the future."
At 14:00 GMT, the Dax rallied by 0.2 per cent – or 19.5 points – to an index value of 7673.1 points.
Find CFD trading strategies for the European markets at City Index.
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.