European investor confidence increased for a fourth month in December as the European Central Bank’s pledge to save the euro calmed financial markets, the Sentix research institute said.
An index measuring sentiment in the euro-area economy increased to minus 16.8 from minus 18.8 in November, the Limburg, Germany-based institute said in an e-mailed statement today. Economists had forecast a gain to minus 16.9, according to the median of 12 estimates in a Bloomberg News survey. A gauge of economic expectations climbed to minus 1.5 from minus 5.5, while a measure of current conditions rose to minus 31 from minus 31.3, Sentix said.
ECB President Mario Draghi announced in July he would do whatever is needed to preserve the euro. He introduced an unlimited government bond-purchase program in September and investors are now waiting for Spain to apply for aid from Europe’s bailout fund, a condition for the ECB to intervene in debt markets.
While Draghi hasn’t been able “to eliminate all doubts” about the future of the euro, the ECB’s pledge “has changed the situation for the better,” Sebastian Wanke, senior analyst at Sentix, said in the statement.
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