European Stocks Higher; German Ifo Offers Positive Surprises

European stock markets traded higher Monday, with improved German business sentiment helping the tone despite worries about inflation and rising interest rates weighing heavily on the global economic outlook. The week has started on an upbeat note, following on from gains by regional indices on Friday, helped by China easing a key interest rate, suggesting that the authorities in Beijing are keen to support the second largest economy in the world. Helping the tone Monday was the release of a better than expected Germany’s Ifo business climate index for May, which rose to 93.0 revised from 91.9 in April.