Technical & Fundamental Oil Reports Specialists

Follow us

PVM Midday Report 01 July 2014

Published Tuesday, July 1st, 2014

  1. Euro-area manufacturing sector growth eases in June
  2. Eurozone unemployment rate unchanged at 11.6% in May
  3. UK manufacturing expands at its fastest in seven-months during June
  4. Russia to cut exports of ULSD from port of Primorsk by 4% m/m in July

Fundamentals

Economy: European stocks are climbing at the start of a new quarter as traders absorb steady manufacturing and employment data from the common-currency bloc – the Eurofirst 300 is adding 0.5%. A Eurozone manufacturing PMI reading slowed to a seven-month low of 51.8 in June although it points to a continuation of the sector’s recovery with a twelfth consecutive monthly expansion. Highlights include Spanish factory activity hitting a seven-year high, Germany’s reading missing expectations and French manufacturing showing signs of improvement but still languishing below the 50 level. Unemployment across the euro-area was stable in May with the rate holding at 11.6%.

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.