Eurozone investor sentiment hits highest level since July 2007 - Sentix

Investor sentiment in the eurozone rose more than expected in May, to its highest level since July 2007, according to the latest reading from Sentix.

The research group's economic index for the eurozone increased to 27.4 from 23.9 in April, exceeding expectations for a reading of 25.3.

The sub-index for current conditions pushed up to 34.5 from 28.8 in April, marking its highest level since January 2008, while the expectations index rose to 20.5 from 19.3, which was its highest level since August 2015.

Meanwhile, the overall index for Germany printed at 36.9, up from 35.3 in April and reaching its highest level since March 2005. The German index for current conditions rose to 61.3 from 59.0, while the index for expectations came in at 14.8 from 13.8.

It was a distinctly less cheery picture for the US, however, with the overall index sliding to 20.4 in May from 26.7. The current situation index printed at 36.0 from 45.0, while the expectations expectations index fell to 5.8 from 9.8.

"Before the decisive second round in the French presidential election, investors are once again assessing the economic situation in the euro zone improved. Investors are obviously expecting a decrease in political uncertainties in the euro zone," Sentix said.