Technical & Fundamental Oil Reports Specialists

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PVM Midday Report 24 April 2014

Published Thursday, April 24th, 2014

Headlines

  1. Rising German business confidence in April beats expectations
  2. Draghi reveals that worsening inflation could trigger ECB asset-buying
  3. Libya’s Zueitina port to resolve technical issues before exports can resume
  4. Planned maintenance cuts output from North Sea Buzzard oilfield by 25%

Fundamentals

Economy: Well-received tech earnings on Wall St and prospects of a pickup in M&A activity is supporting European equity indices – the Eurofirst 300 is climbing 0.7%. With recent fears over potentially overvalued tech stocks easing, risk appetite is returning to the fore which in turn is hurting demand for highly-rated government bonds. Benchmark 10-year US Treasury and German Bund yields are adding 1 and 3 basis points respectively.  Russian assets remain immune from the broadly positive mood as Ukrainian tensions linger –Moscow’s Micex is slipping 1% as it heads for its fourth-daily consecutive decline

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.