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More Optimism as Confidence Indicator Rises

A leading confidence index has showed that investor confidence is continuing to rally strongly in Germany, giving yet further indication that the euro zone's biggest but worst-performing economy is set to stage a recovery at the beginning of next year, according to the report by the economic research institute ZEW. The index, based on a poll of around 300 analysts and institutional investors, rose by 8.4 points to plus 60.9 points, its highest level since July 2002, out-stripping analysts’ expectations of a gain around 58 or 59 points. The ZEW index has now risen for nine straight months, "confirming the anticipated economic recovery at the beginning of next year", the institute said.