Investor confidence in the eurozone economy fell for the second month running in November 2026, despite the recovery of European stock markets following a massive sell-off in technology shares. According to the Sentix survey, the investment sentiment index fell to 2.4 points, down from 2.7 in October. Market participants are becoming increasingly cautious in their assessment of the prospects for economic growth due to high energy prices, the cost of borrowing and political uncertainty. At the same time, European shares turned higher on 9 November as investors began to return to technology stocks following last week’s sharp fall.
- The eurozone investor confidence index fell to 2.4 points in November.
- Economic expectations have been deteriorating for the second month running against a backdrop of high costs.
- The negative assessment of the current state of the economy remained at minus 3.3 points.
- European stock indices are recovering following a massive sell-off in technology shares.
- Germany is showing signs of stabilisation, although investor sentiment remains negative.
Investor confidence in the eurozone economy has been falling for the second month running
According to the results of the Sentix survey, the overall The investor confidence index stood at 2.4 points in November, down by 0.3 points compared with October. Analysts had expected a sharper fall — to 2.1 points — but the actual results also point to a decline in optimism.
The index measuring the current economic situation remained unchanged at minus 3.3 points. Meanwhile, the indicator of expectations for the next six months fell by 0.5 points to 8.3, its lowest level since June 2026.
Sentix notes that the prospects for a sustained economic recovery have deteriorated once again. The main factors remain rising interest rates, high energy prices and political uncertainty, which are holding back investment activity.
The survey was conducted between 5 and 7 November amongst 1,025 financial market participants, 220 of whom represented institutional investors.
European stock markets have resumed their upward trend following a fall in shares of AI companies
Despite the deterioration in economic expectations, trading on European stock markets on 9 November was largely positive. Investors began buying shares following last week’s sell-off, which was triggered by concerns over the valuations of technology companies and the costs of developing artificial intelligence.
According to data from the morning and afternoon trading sessions, the pan-European STOXX 600 index rose by approximately 1 per cent, the German DAX by 1.5 per cent, and the French CAC 40 by 1.1 per cent. Technology companies and the banking sector provided the strongest support for the market.
In particular, shares in European semiconductor manufacturers ASML, ASM International and Infineon rose in price. News of a possible merger of the Italian banking assets of Crédit Agricole and Banco BPM provided a further boost.
At the same time, the situation surrounding the US-based Nvidia remained a source of uncertainty. Reports of an internal investigation at the company caused its shares to fall in pre-market trading, although this did not halt the overall recovery in European technology shares.
Germany is showing the first signs of stabilisation
In contrast to the general trend in the eurozone, the investment sentiment index in Germany rose by 0.3 points in November to minus 3.3. Although the figure remains in negative territory, researchers view this trend as a sign of gradual stabilisation in Europe’s largest economy.
The assessment of the current economic situation in Germany has also improved for the fifth month running, reaching minus 14 points. This is the highest figure since May 2023.
At the same time, the positive trend in certain indicators has not yet altered the overall picture. Sentix data show that investors remain cautious about the prospects for the European economy, even as stock markets show signs of a short-term recovery.
