German business confidence unexpectedly rose in April, signaling optimism that Europe’s largest economy will withstand risks from tension in Ukraine to price weakness in the euro area. The Ifo institute’s business climate index, based on a survey of 7,000 executives, rose to 111.2 in April from 110.7 the prior month. Economists predicted a decline to 110.4, according to the median of 34 estimates in a Bloomberg News survey. German manufacturing and services activity is expanding at near the fastest pace since 2011 as the country leads a recovery in the 18-nation euro area. At the same time, the European Central Bank ... (full story)