It's all down to the Greeks
25 May 2012
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.
... login or subscribe for full story