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Euro zone investor morale falls on protectionism fears

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Staff Writer |
Euro zone investor morale
Europe   Sentix’s index for the euro zone fell

Investor morale in the euro zone deteriorated for the fourth month in a row this month to its lowest level since February 2017, hit by concerns about the possible introduction of U.S. tariffs and a protectionist spiral.

Sentix’s index for the euro zone fell to 19.2 from 19.6 in April. The Reuters consensus forecast was for a rise to 21.0. The fall was due to both lower economic expectations and investors’ slightly weaker assessment of current conditions.

“Uncertainties about the introduction of punitive U.S. tariffs and the danger that this could lead to an expansion of protectionist measures are weighing on us,” Manfred Huebner, managing director at Sentix, said in a note.

In the run-up to a June 1 deadline, Germany is urging its European partners to show some flexibility and pursue a broad trade deal that benefits both sides. But that puts Germany at odds with European peers such as France.

A Sentix survey for Germany also fell for the fourth month in a row, hitting its lowest since September 2016.

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