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PVM Midday Report 06 June 2014

Published Friday, June 6th, 2014


  1. German industrial output rebounds 0.2% in April after contracting in March
  2. Planned North Sea Brent oil loadings slightly down to 116,000bpd in July
  3. Bundesbank raises 2014 German GDP growth forecast to 1.9% from 1.7%
  4. Emerging market business activity PMI hits three-month high
  5. Pro-Russian separatists attack east Ukrainian border post


Economy: European stock indices are on course for their best close in over six-years as traders continue to digest the latest round of ECB stimulus measures – the Eurofirst 300 is up 0.4%. Eurozone sovereign bonds are extending yesterday’s post-ECB gains as yields slip to fresh record lows. Figures revealing that German industrial production returned to growth in April are also contributing to the broadly upbeat mood. However, an element of caution does remain as investors await clues to the health of the US jobs market.

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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.