The index of investor confidence in the euro area continued to decline for the third month in a row. Thus, the figure had fallen to its lowest level since May 2013 -13.7 in October, against -9.8 in September. Analysts predicted fall of the index to the level of -11.3. The reason for the deterioration in sentiment was a number of factors, including the deterioration of macroeconomic indicators in the industry and the region as a whole, the sanctions associated with the Ukrainian crisis and the absence of any real positive results from ECB measures aimed at combating low inflation and support economic development in the region.
Taking into account this statistic, we maintain a medium-term negative outlook for European stock indexes.