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PVM Midday Report 25 March 2014

Published Tuesday, March 25th, 2014

  1. German business morale slips to five-month low in March
  2. Russian gasoline exports decline by 23.1% in February from January
  3. UK inflation falls to four-year low of 1.7% in February
  4. Russia to increase overall Baltic Sea oil exports in April

Fundaments

Economy: European equities are rebounding as investors attempt to profit from the recent sharp sell-off caused by geopolitical tensions and fears of a slowdown in China’s economy – the Eurofirst 300 is surging 1.1%. Risk appetite is receiving support from hopes of Chinese stimulus measures, which in turn is boosting growth-focused assets – both copper and aluminium are climbing 1.4%. Despite the mildly bullish mood, long-term uncertainty is being reflected as benchmark Treasury and Bund yields ease 0.01%. The latest German business morale index fell for the first time in five-months in a further sign of the growing concerns about the effects of the Ukrainian crisis on Europe’s largest economy

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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.