Germany's ZEW economic sentiment index jumped to 26.3 in July, a sharp rise from 10.5 in June. It also beat the analyst consensus of 17.5 compiled by Reuters, extending the improvement after turning positive in June. ZEW President Wambach said reforms are taking effect, citing the comprehensive pension, tax, and labor reforms and measures to streamline bureaucracy presented by Chancellor Merz this month. Meanwhile, the current conditions index remained in negative territory at minus 77.6, but improved from minus 81.0 in June.