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It's all down to the Greeks
Friday 25 May 12 10:00am
Despite negative data last night in Europe - German IFO business sentiment falling to six month low, Eurozone flash PMI 45.9 vs. 46.7 in April and UK recession deepening with Q1 GDP revised to -0.3 per cent - carbon managed to rebound on a stronger energy complex and finish the day firm, OMFinancial reports.
Higher equity markets in Europe also lent support, but it’s a clear pattern that carbon is struggling to push to new lows and continues to hammer out a base.
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