European stock exchanges are growing amid an improvement in the business climate in Germany

European stock indexes showed positive dynamics on Tuesday, which was a reaction to the publication of fresh statistics from the IFO Institute for the business climate in Germany. 

According to trading data, the British FTSE 100 added 0.49% to 8,680.61 points, the French CAC 40 increased by 0.91% to 8,094.99 points, while the German DAX rose 0.7% to 23,015.06 points.

In the morning, the IFO Institute presented updated information on the business climate index in Germany. In March, the indicator rose to 86.7 points, while in February it was 85.3 points. The improvements also affected the index of economic expectations, which increased to 87.7 points compared with the revised February value of 85.6 points. These results exceeded the expectations of analysts, who had predicted a level of 87.3 points.

The data show a gradual recovery in the German economy. The strengthening of positions is confirmed not only by the growth of the IFO business climate index, but also by the improvement in the business activity indicators of the PMI for March. This is especially noticeable in the manufacturing sector, which previously faced serious difficulties.