Equity markets in the eurozone were slightly firmer during the European trading morning, with the FTSE and most of the major European averages around 0.20 to 0.30 percent higher.
US stock futures slid Monday as investors prepared for a slate of inflation data later in the week and braced for the start of the second-quarter earnings season.
The eurozone Sentix Investor Confidence declined to -22.5 in July from -17 in June, further highlighting that no recovery is likely anytime soon according to investor sentiment.
Commenting on the survey’s findings, “there is also nothing positive to report in terms of forward-looking expectations,” said Sentix managing director Manfred Huebner.
Mr Huebner further noted that the Investor Confidence Index for Germany fell 7.3 points to -28.4. Downbeat comments were also coming from Sentix themselves.
Sentix notes that the conditions reflected in the German economy are “dramatically bad” as the global downturn is beginning to move towards its next phase. Often when things look at their worst it may be time to look for a significant market bottom.
Sentix surveys around 1600 financial analysts and institutional investors, further underscoring the scope of the survey. the Sentix Investor Confidence is a monthly survey which shows the market opinion about the current economic situation and the expectations for the next semester.
The index, released by the Sentix GmbH, is composed by 36 different indicators. Usually, a higher reading is seen as positive for the Eurozone, that means positive, or bullish, for the Euro, while a lower number is seen negative or bearish for the unique currency.