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German investor morale rises, buoyed by hopes of Brexit delay

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German investor morale rises, buoyed by hopes of Brexit delay
A trader works at his desk at the stock exchange in Frankfurt, Germany, January 30, 2019. REUTERS/Staff   -   Copyright  STAFF(Reuters)
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BERLIN (Reuters) – The mood among German investors improved by much more than expected in March, a survey by the ZEW research institute showed on Tuesday, as a potential delay to Britain’s departure from the European Union buoyed sentiment.

British lawmakers voted overwhelmingly last Thursday to seek a delay in Britain’s exit from the EU.

“The possible delay in the Brexit process as well as the renewed hope for a deal on the UK’s withdrawal from the EU seem to have given rise to more optimism among financial market experts,” ZEW President Achim Wambach said in a statement.

“Progress made in the negotiations between China and the U.S. to end the trade war between the two nations may also have contributed,” he added.

The ZEW research institute said its monthly survey showed economic sentiment among investors rose to -3.6 from -13.4 in February. Economists had expected an increase to -11.0.

A separate gauge measuring investors’ assessment of the economy’s current conditions dipped to 11.1 from 15.0 in the previous month. Markets had predicted a fall to 11.7.

(Writing by Paul Carrel; Editing by Michelle Martin)

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