Euro zone Sentix index up slightly in April, misses expectations

BERLIN (Reuters) - Sentiment in the euro zone edged up in April for the first time this year but failed to benefit greatly from a stabilisation in the global economy or European Central Bank stimulus, a survey showed on Monday.

The Frankfurt-based Sentix research group's index, tracking morale among investors and analysts in the euro zone, rose to 5.7 from 5.5 in March.

However, the first rise since December fell short of expectations. Analysts polled by Reuters had expected a reading of 6.4.

"The picture of a moderate upswing... seems a little anaemic despite further stimulus from the ECB," Sentix said in a statement.

In March, the ECB cut rates and expanded its asset buying programme but bank chief Mario Draghi undercut some of the impact by suggesting there would be no further cuts.

Sub-indices showed investors viewed the euro zone's current conditions falling to 6.0 from 8.3 in March. Expectations rose to 5.5 from 2.8.

"Investors hoping for a more dynamic swing for the euro zone have probably been disappointed. The time when monetary bazookas by the ECB sufficed to change market expectations in the long term seem to have gone," said Sentix.

It added that the focus was returning toward economic cycles in other regions.

An index tracking Germany, the euro zone's biggest economy, rose to 17.6 from 16.9 and the index for the United States was up at 14.5 from 9.5, reflecting a perception that the downturn scenario there is off the table for now.

The survey of 1,016 investors was conducted between March 31 and April 2.

(Reporting by Madeline Chambers)