Eurozone: Investor sentiment improves for the first time in three months-Sentix | Photo credits: © European Union
FRANKFURT, Nov 7 (Reuters) – Eurozone investor sentiment improved for the first time in three months in November as ongoing mild temperatures and lower energy prices appeared to dissipate the threat of a gas rationing this winter, the results of the Sentix Institute’s monthly survey show on Monday.
Its confidence index stood at -30.9 points this month against -31.8 in October, coming out well above the expectations of analysts polled by Reuters who had expected -35.0.
The sub-index measuring investor expectations also rebounded from -41.0 to 32.3, its highest level since June. The one on their current situation went from -35.5 to -29.5.
Believing that this is not a “trend reversal”, the managing director of Sentix, Manfred Hübner, underlined in a statement that “the improvement in the current situation and in expectations shows how investors are sensitive to signals from the energy market regarding their economic outlook.”
According to Manfred Hübner, above-seasonal temperatures and high gas stocks in Germany have allayed fears of potential energy rationing in Europe.
“Spot market gas prices have collapsed as a result. Worries about a drastic gas shortage are fading,” he said.
The Sentix Institute surveyed 1,348 investors between November 3 and November 5. (Report Christoph Steitz; French version Claude Chendjou, edited by Bertrand Boucey)