German investor confidence subdued.

 ZEW said its index of investor and analyst expectations crept up to 36.4 this month from 36.3 in April, missing economists' forecast of 40. The below-consensus reading was largely attributed to a generalized sense of anxiety regarding the economic situation in the eurozone as a whole, underscored by the ECB's recent rate cut. "The problem is that [Germany] seems to be the only big EU economy growing," said a senior economist at Citigroup, quoted by Bloomberg.