Scoreboard: German jitters

European markets slipped as weak German sentiment weighed on the region, while the Brent oil price fell to a 13-month low amid rising production levels.

In European economic news, Germany’s ZEW economic sentiment index fell from 27.1 to 8.6 -- the lowest level in 18 months and well below expectations. The ZEW current conditions index fell from 61.80 to 55.5. No surprise that the weakness was driven by the escalation of tensions between Russia and the West. News reports suggest a growing number of the 6,200 German firms active in Russia are warning about a hit to their business. The survey was based on 222 analysts and investors, and conducted between July 28 and August 11.

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