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PVM Midday Report 05 September 2014

Published Friday, September 5th, 2014

Headlines

  1. Ukrainian forces shell rebels close to the port of Mariupol
  2. Buzzard delays causes one Forties cargo to be dropped from September loading
  3. North Sea Brent loadings little changed in October at 97,000 bpd
  4. Gauge of future eurozone inflation rises to 28-month high in July

Fundamentals

Economy: European bourses are mirroring overnight losses in Asia as attention turns to today’s US jobs data and the ongoing efforts to secure a permanent cease-fire in eastern Ukraine – the Eurofirst 300 is easing 0.5%. Yesterday’s equity rally triggered by the ECB has paused as a bout of profit taking and the tentative mood triggers a fall in risk appetite. Investors are paring bets ahead of the key US non-farm payroll report which is forecast to have shown a net addition of 230,000 jobs in August.

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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.