The IFO index concerned with measuring confidence in Germany fell unexpectedly in February, as the index, which is based on a survey of nearly 9,000 companies in Germany, fell to 85.2 compared to the January reading, rising to 85.2, while expectations were for a rise of 85.9. In detail, the current situation index fell to 85 compared to 86 in January, while the expectations index rose to 85.4 from 84.3 in the January reading.
In a related context, yesterday’s elections in the largest economy in the euro zone ended with the victory of the conservative opposition consisting of the Christian Democratic Union and the Christian Social Union led by Friedrich Merz, who is expected to become the next Chancellor of Germany, amid anticipation of complex and long coalition negotiations. However, the absence of surprises in the result cast a positive shadow on the markets, as investors felt relieved, and this was reflected in the trading of European stocks in the opening session this morning and the trading of the euro, which rose with the opening of the markets by more than 70 points against the US dollar, while the X index is currently rising by 0.70%.
24/02/2025
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