German business morale unexpectedly rose slightly in April as companies were less pessimistic after the initial shock of the war in Ukraine, a survey showed on Monday.

The Ifo institute said its business climate index rose slightly to 91.8 in April from 90.8 in March.

A Reuters poll of analysts had pointed to an April reading of 89.1.

(Reporting by Miranda Murray, Thomas Escritt and Rachel More; editing by Maria Sheahan)