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PVM Midday Report 27 February 2014

Published Thursday, February 27th, 2014

Headlines

  1. Reuters poll forecasts Brent crude oil to average $105/bbl in 2014
  2. German unemployment falls to 41-month low in February
  3. Spanish economy grew by less-than-expected in Q4’13
  4. European Commission survey shows economic sentiment improving in February

Fundamentals

Economy: Risk-assets across Europe are slipping as tensions surrounding the political turmoil in Ukraine pushes money into perceived safe havens – the Eurofirst 300 is down 0.9%. In a sign of further Russian belligerence, fighter jets along its western borders have been place on high alert just as pro-Russian gunmen storm government buildings and parliament in the Crimea. The upshot has seen the Russia ruble hit a fresh five-year low whilst the Ukrainian hryvnia reached a new record low. The prospect of regional instability is also undermining the euro as is the news that Spanish GDP growth in Q4’13 was revised down to 0.2% from 0.3%.

To read the rest of the report, please click here 

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.