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Start of a new bull market in Euro - German investor confidence unexpectedly rose in November
Karen Zuba
Nov. 11, 2008
It may spark a new rally in Euro. Europe is showing first sign of life especially in Germany. The ZEW Center for European Economic Research in Mannheim said today that its index of investor and analyst expectations increased to minus 53.5 from minus 63 in October. The index reached minus 63.9 in July, the lowest on record. Economists expected an unchanged reading, the median of 41 forecasts in a Bloomberg News survey shows.
Germany's benchmark DAX share index rebounded from a three- year low last month as the yearlong credit crisis shows signs of abating. Interbank lending rates in Europe have fallen to the lowest since February after central banks injected cash into the financial system. Chancellor Angela Merkel's Cabinet agreed on a stimulus package worth 50 billion euros ($64 billion) on Nov. 4.
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