IFO institute survey shows higher Business Confidence in Germany (Bloomberg) (26-03-2007)

March 26 (Bloomberg) -- A surprise from the IFO institute shows that German business confidence unexpectedly rose again in March; it seems that the largest European economy is dealing with near-record oil prices, a surging euro, and a global credit squeeze.

Based on the survey of 7,000 executives the Munich-based IFO institute said its business climate index rose to 104.8 from 104.1 in February, while economists had been expecting a drop to 103.5.

The euro rose more than a cent to $1.5700 at 10:26 a.m. in Frankfurt. European bonds pared gains.

Source Bloomberg