The Ifo Institute reported that Germany's business confidence index for July rose to 86.6 from 85.7 in June, exceeding analysts' forecast of 86.0. The increase was driven by a strong jump in the economic expectations index to 86.7 from 84.3 in the previous month, while the current conditions index edged down to 86.5 from 87.0. Ifo President Clemens Fuest said the German economy is taking a less negative view despite ongoing uncertainty in the Persian Gulf, and confidence improved across all sectors.