State Street Bank: confidence in Europe

BOSTON (dpa-AFX) – Investors in European stock markets were even more confident in November. The Investor Confidence Index (ICI) for Europe, calculated monthly by financial services provider State Street, rose 1.1 to 133.9 points. “Confidence among European investors remains high,” said Michael Metcalfe, strategist at State Street Global Markets. Investors were so confident for the last time at the end of 2014, shortly before the European Central Bank launched the first round of government bond purchases.

The corresponding surveys for North America (67.7 points) and Asia (85.6 points) have not changed or changed little – at levels significantly lower than those for Europe. State Street’s Kenneth Froot explained low investor confidence in North America in the face of the trade war and hearings related to the possible impeachment of US President Donald Trump. These two factors are weighing on the mood of investors.

The global investor confidence index rose to 80.9 points, up 1.7 points from the adjusted value of 79.2 in October. This means that the confidence of global investors remains below the neutral value of 100. The cautiousness on equities observed since the end of 2018 therefore continues.

The Investor Confidence Index quantitatively measures investor confidence or risk tolerance by examining the actual buying and selling behavior of institutional investors. The index assigns precise meaning to changes in investors’ risk appetite: the higher the percentage allocation between individual securities, the greater the risk appetite or confidence. A value of 100 is neutral; it is the level at which investors do not increase or decrease their long-term exposure to high-risk assets.

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