FILE PHOTO: The stand of German car manufacturer Audi is reflected in the ceiling during a media preview day at the Frankfurt Motor Show (IAA) September 11, 2013. REUTERS/Kai Pfaffenbach/File Photo

BERLIN (Reuters) – Investor morale in the euro zone improved in May for the third month in a row to hit its highest level since November 2018, helped by a buoyant global environment and the danger of a disorderly Brexit being averted until October.

The Sentix research group said on Monday its investor sentiment index for the euro zone rose to 5.3 in May from -0.3 in April. Analysts had expected a reading of 1.4.

“In May, the economic situation continued to improve globally, but also in Europe. Fears of a recession are thus receding