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PVM Midday Report 29 April 2014

Published Tuesday, April 29th, 2014


  1. EU issues fresh round of sanctions against prominent Russian individuals
  2. Eurozone economic confidence unexpectedly dips slightly in April
  3. UK Q1 GDP growth accelerates to 0.8%; misses forecasts of 1%
  4. Exports of Iraqi Kurdish oil stored at Ceyhan could begin in May


Economy: A slew of well-received corporate earnings from across the Eurozone and an easing of nerves surrounding the Fed meeting are lifting the region’s equity markets – the Eurofirst 300 is gaining 0.75%. Ukrainian concerns look to have been put on the backburner for now in spite of the EU following on from the US and issuing a fresh round of sanctions against a number of prominent Russian individuals. The mildly optimistic mood is hurting demand for traditional haven assets with yields on benchmark US Treasuries adding 2 basis points and gold slipping $5 to $1,290/oz.

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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.