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PVM Midday Report 11 April 2014

Published Friday, April 11th, 2014

  1. IEA bucks trend and cuts its 2014 oil demand growth by 60,000bpd to 1.29mbpd
  2. OPEC expects global demand and supply for crude to stay fairly balanced in 2014
  3. EM equity and bond funds register inflows of $4.7billion in week ended April 9
  4. Ukraine reiterates desire to source its energy needs from Europe

Fundamentals

Economy: European indices are tracking heavy losses in Asia after a renewed sell-off on Wall St triggered by concerns over stock valuations undermines investor sentiment – the Eurofirst 300 is tumbling 1.4%. Emerging-market assets are coming under pressure after the US threatened Russia with more sanctions and credit-rating agency Moody revised its outlook on Turkish debt to negative. This contrasts with figures revealing that EM equity and bond funds have just recorded their largest weekly inflow for more than a year.

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.