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PVM Midday Report 26 February 2014

Published Wednesday, February 26th, 2014

Headlines

  1. Nigeria’s April exports of crude set at 1.73mbpd, down from 1.88mbpd planned for March
  2. Militants attack gas pipeline in Egypt’s Sinai province
  3. China to raise retail fuel prices by around 2%
  4. US mortgage applications fall 8.5% in week ended Feb 21

Fundamentals

Economy: European stocks are easing as risk appetite continues to be challenged by China’s obfuscation regarding its recent currency policy moves – the Eurofirst 300 is down 0.3%. The renminbi is down another 0.1% versus the dollar as the Chinese central bank attempts to assuage concerns by stating that liquidity within its money markets remains adequate.

 

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Posted by Stephen Brennock

Stephen Brennock joined PVM in 2013 after having worked as a project manager for a business development firm. He graduated with a degree in Business Management in 2007.