German investor sentiment unexpectedly improves in June - ZEW

(Sharecast News) - German investor sentiment unexpectedly improved in June amid hopes of an end to the Middle East conflict, according to a survey released on Tuesday by the ZEW Center for European Economic Research in Mannheim. The ZEW economic expectations indicator rose to 10.5 from -10.2 in May, comfortably beating expectations for a reading of -6.0.

The index for the current situation declined to -81.0 in June from -77.8 the month before.

ZEW President Achim Wambach said: "The ZEW Indicator returns to positive territory as financial market experts expect the Iran conflict to be nearing an end. This is likely to ease the massive pressure on energy prices and inflation, which would benefit energy-intensive industries and private households and would strengthen domestic demand."

The survey was carried out between 8 and 15 June.