Reuters reports that ZEW economic research institute said that investor sentiment in Germany fell unexpectedly in April, citing rising fears that Europe's largest economy will go into a stricter lockdown, depressing private consumption.

The economic sentiment fell to 70.7 points, its first drop since November 2020. That compared with 76.6 in the previous month. A Reuters poll had forecast a rise to 79.0.

A separate gauge of current conditions rose to -48.8 points from -61.0 the previous month. That compared with a consensus forecast for -53.0 points

"The financial market experts are somewhat less euphoric than in the previous month," ZEW President Achim Wambach said in a statement. "The ZEW indicator of economic sentiment is, however, still at a very high level and the current situation is assessed much more positively than in March."