- A reading of the business climate in Germany came in ahead of the forecast of economists.
- The Ifo economic business climate index for October was 108.2 vs. 107.8 expected and 108.5 in September.
- The stable view by German business managers indicates the impact of the Volkswagen emissions scandal on the broad German economy may be less than feared.
- Ifo Institute: "Indeed the Volkswagen scandal has had no impact on the German automotive industry. The climate index for the automotive sector even continued to rise this month."
- Related ETFs: EWG, GF, DAX, DXGE, HEWG, DBGR, FGM, QDEU.
- Related stocks: VLKAY, BAMXY, OTCPK:DDAIF.