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PVM Midday Report 27 August 2014

Published Wednesday, August 27th, 2014


  1. German consumer confidence slips heading into September
  2. Tribesmen attack main Yemini pipeline in eastern province of Mareb
  3. US mortgage applications index rises 2.8% in the week to August 22
  4. North Sea Buzzard oilfield to resume exports tomorrow


Economy: European stocks are struggling for traction as yet more disappointing economic data from the Eurozone counteracts a decline in geopolitical tensions – the Eurofirst 300 is up 0.1%. Risk appetite is on the back foot after a gauge of German consumer confidence eased by more-than-expected going into September in what was its first fall in more than 18 months. Moreover, signs of wariness across the currency-bloc were highlighted by a fall in French industrial confidence and Italian consumer morale throughout August. The combination of weak data and hopes of increased monetary stimulus from the ECB is lending support to the region’s debt markets where yields have fallen to new record lows. The largely cautionary mood comes in spite of an improvement in the geopolitical backdrop.

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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.