- GfK
German consumer confidence stagnated in May as consumers remained cautiously confident about German economic prospects, said GfK, one of the world's leading market research companies.
An index of sentiment was unchanged at 5.7 points from April.
"Despite recessionary trends in Europe and rising uncertainty as a consequence of the debt crisis, Germans feel that the national economy is continuing its upswing," said GFK.
Germany's economy grew by 0.5 per cent in the first three months of 2012.
European stocks closed higher on Friday after Prime Minister Mario Monti said that he supports joint euro-area bonds.
"Monti's comments on euro bonds support the markets as many investors see them as a good solution that would act as a firewall to a Greek exit from the euro zone," said John Plassard, director at Louis Capital Markets LP in Geneva.
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