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PVM Midday Report 09 September 2014

Published Tuesday, September 9th, 2014


  1. Britain’s North Sea Buzzard oilfield shuts down again
  2. Russian oil production to stabilise at around 525 mln tonnes a year until 2017
  3. Ukraine ceasefire holds, Russia pushing for talks on status of Donetsk and Luhansk
  4. UK industrial output increases 0.5% m/m in July


Economy: European stocks are struggling for direction as investors weigh the uncertainty blighting foreign currency markets and an improving geopolitical backdrop – the Eurofirst 300 is flat. The creation of a new government in Iraq and the postponement by the EU of fresh sanctions planned against Russia are doing little to support risk appetite levels. Benchmark US Treasury yields are ticking slightly higher despite the largely cautionary mood as ongoing dollar strength and the imminent conclusion of the Fed’s QE programme dents demand for the perceived haven asset. Gold is proving to be another victim of the buck’s recent surge as it slips towards a three-month low.

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.