Euro zone investor morale slightly up, but ‘turnaround looks different’

BERLIN (Reuters) – Investor morale in the euro zone rose for a second consecutive month in November, though by slightly less than expected, as somewhat greater satisfaction with the current situation boosted the overall mood, a survey showed on Monday.

The Sentix index for the euro zone rose to -12.8 in November from -13.8 in October, falling slightly short of the forecast from analysts polled by Reuters of a rise to -12.5 this month.

The survey of 1,066 investors from Oct. 31 to Nov. 2 showed expectations stagnating at -3.8 points this month.

“A turnaround looks different,” the Sentix report said.

The current situation score for the currency union improved slightly to -21.5 in November from -23.3 last month.

Investor morale in Germany, Europe’s largest economy, also rose slightly this month for the second consecutive month, increasing to -29.8 from -31.5 in October, showed the survey.

“Even if the crisis cannot shock investors in Germany because they are already in a minor key, no positive turnaround scenario can be derived from this data,” the report said.

(Reporting by Friederike Heine, Editing by Miranda Murray)