Greece sends German business confidence to four-month low

The Ifo institute's closely watched business climate index fell to 107.4 points in June from 108.5 points in May, the think tank said in a statement. "The outlook for the German economy is overcast," said Ifo president Hans-Werner Sinn. "The Greece noise is taking its toll, straining the nerves of Germany's export-oriented manufactures a little," said Berenberg Bank economist Holger Schmieding.