Summary: Euro-zone composite sentiment index up from 104.9 to 105.0 in May; touch above expectations; readings down in two of five sectors, other three unchanged; up in all four largest euro-zone economies; sovereign bond yields substantially higher; index implies GDP growth of 2.6%. The European Commission’s Economic Sentiment Indicator (ESI) is a composite index comprising five differently-weighted sectoral confidence indicators. It is heavily weighted towards confidence surveys from the business...