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PVM Midday Report 23 June 2014

Published Monday, June 23rd, 2014

 

1.)   China increases retail gasoline and diesel prices as of tomorrow

2.)   Sunni Islamists took control of Iraq-Jordan border post

3.)   Chinese and Japanese manufacturing sectors expand this month

4.)   Eurozone June Composite PMI falls to 52.8 from 53.5 in May – Markit

 

Economy

HSBC’s Chinese flash manufacturing PMI index rose to 50.8 in June, up from 49.4 in May. It is the first expansion for 6 months. The same index for Japan rose to 51.1. It stood at 49.9 in May. On the other hand, the private sector growth in the Eurozone slowed in June with Germany expanding whilst France falling at the fastest pace for four months. The Composite PMI index reading is at 52.8 in June from 53.5 in May. The FTSEurofirst 300 index has fallen 0.5% this morning whilst the Nikkei 225 index closed at its highest level for 5 months.

 

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Posted by Tamas Varga

Tamas Varga has been in the oil industry since 1992 and with PVM for 18 years. During his time in the industry he has gathered a range of experience in the oil markets. At PVM Tamas is in charge of data collection and analysis.