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PVM Midday Report 04 April 2014

Published Friday, April 4th, 2014

Headlines

  1. Libyan rebels make progress in government talks on reopening oil ports
  2. German factory orders bounce 0.6% in February from January
  3. Ukraine in talks with Europe on possibility of importing gas from the West
  4. North Sea Brent oil loadings to fall slightly in May to 116,000bpd
  5. Emerging-market equity funds suffer record $41 billion outflows in Q1

Fundamentals

Economy: European indices are extending their longest winning streak since last October with investors expecting the latest US jobs report to signal that the economy is strengthening – the Eurofirst 300 is up 0.15%. Should it come close to the market consensus of a net addition of 200,000 jobs in March, it will confirm the weather-related nature of the soft economic data from earlier in the year. Moreover, it should not trigger a change in the trajectory of the Federal Reserve’s policy which remains highly accommodative.

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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.