Today was published statistics on the index of business sentiment in Germany in April. The index rose by 0.7 to 108.6. Analysts had forecasted an increase to 108.5. The current conditions index reached 113.9, against the forecast of 112.4. It is worth noting that the main motivating factors for the German economy remains the growth of domestic consumption and export growth, due to the improvement of the economic situation in the European Union, as well as lower euro, which has led to an increase in the competitiveness of German goods to markets outside the Eurozone. Our medium-term outlook for the stock market in Germany remains positive due to the positive influence of the quantitative easing program.