Today data on German business climate came in at 10:00 GMT. The index rose to a 7-month high easing concerns over the health of Eurozone's biggest economy although being below expectations for a stronger increase. The IFO-index is based on a survey conducted by a munich-based research institute polling 7,000 German firms in the manufacturing, construction, wholesale and retail sectors.

The IFO - Business Climate for February rose from 106.7 in the previous month to seasonally adjusted 106.8 points, below expectations of an increase to 107.4.

The IFO-Expectations, measuring business prospects came I at 102.5 from previous 102 points. Analysts expected an increase to 103.0.

The IFO Current Assessment came in at 111.3, declining from previous 111.7 points. Analyst expected a reading of 112.7 points.