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PVM Midday Report 24 November 2015

Published Tuesday, November 24th, 2015

  • Russia is halting gas supply to Ukraine
  • Norway’s 2016 investment in oil and gas will fall steeper than expected
  • Turkey shoots down Russian fighter plane
  • German business morale registers an unexpected November jump

Economy

Japanese flash PMI that hit a 20-month high helped the Nikkei 225 index to finish the day in positive territory. Further good news came from Europe where German business morale rose in November despite expectations of a fall. The country’s economy expanded 0.3% in the third quarter of 2015, according to the Federal Statistics Office. The Turkish tension, however, triggered some kind of exodus from the stock market as the FTSEurofirst300 index has fallen 1.3% so far and travel and leisure stocks are also under pressure due to the US State Department warning of the risk of worldwide travel.

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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.