Investing.com - Investor confidence in the euro zone for May deteriorated unexpectedly, underlining concerns over the outlook for the region’s economy, data showed on Monday.
In a report, market research group, Sentix said its index of investor confidence declined to 12.8 this month from a reading of 14.1 in April. Analysts had expected the index to increase to 14.2 in May.
On the index, a level above 0.0 indicates optimism, below indicates pessimism.
Following the release of the data, the euro held on to modest gains against the U.S. dollar, with EUR/USD easing up 0.01% to trade at 1.3870.
Meanwhile, European stock markets remained lower. The Euro Stoxx 50 fell 0.95%, France’s CAC 40 lost 1.1%, Germany''s DAX dropped 1%, while London’s FTSE 100 remained closed for a holiday.