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PVM Midday Report 15 April 2014

Published Tuesday, April 15th, 2014

Headlines

  1. German investor confidence suffers fourth-consecutive monthly decline in April
  2. Eurozone’s trade surplus widens by €13.6billion y/y in February
  3. Russian oil export duty expected to fall to a 10-month low in May
  4. UK inflations slips to 1.6% in March – lowest level since October 2009

Fundamentals

Economy: European stock indices are declining as lingering Ukrainian tensions and further evidence of a slowdown in China’s economy dampen investor sentiment – the Eurofirst 300 is easing 0.1%. Figures for March have revealed that Chinese money supply grew at its weakest pace on record whilst credit growth decreased to an 8-year low. Despite the cautionary mood, the dollar index is gaining 0.1% while benchmark US Treasury yields add 1 basis point as traders continue to digest well-received earnings and encouraging retail sales data. Conversely, the euro is slipping 0.15% and German Bund prices are firmer after the deteriorating situation in Ukraine caused German investor confidence to fall for a fourth consecutive month in April.

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.