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European Markets Drift as Germany Reports Business Confidence Wanes

European markets lack direction on Tuesday morning, though Germany is weak on the poor economic and geopolitical outlook, especially for its exports to Ukraine and Russia. A German economic confidence survey published by the ZEW Institute fell to its lowest point since December 2012. And shaky results from glue and consumer goods group Henkel combined with its forecast for a poor second half added to the German gloom. Britain’s scandal-plagued outsourced services provider Serco Group sees its share rise despite a 59% fall in first half operating profits. And betting group Ladbrokes also rose despite reporting a 50% drop in first half net income. Airline shares are up as oil prices slip.