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IFO survey reinforced economic pessimism

October 28, 2014

European equity markets came under pressure after Munich-based IFO institute said its widely-watched business climate indicator, based on a survey of 7’000 German companies, declined the sixth month in a row, falling to a nearly two-year low. Additionally, the European Central Bank’s bank stress test report was scrutinized by markets. Financial stocks were among the biggest daily losers in the EuroStoxx50.

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