01.04.2015 - Talks on Iran's nuclear program remain in the center of attention
US stock indexes showed a decline on weak statistics on the Chicago manufacturing PMI which was 46.3 vs. expected 52.5. Today, the focus of investors will be on the data on construction spending in the US and manufacturing PMI in the US (14:00 GMT). Investors also will monitor the negotiations over Iran's nuclear program, which can lead to a weakening of sanctions against Iran, and a sharp drop in oil prices, which had a negative impact on oil stocks. Investors did not rush to accumulate positions prior to the publication of statistics on the US labor market on Friday, which may lead to an increase in the probability of the Fed raising interest rates and a negative impact on the country's stock index. Our medium-term outlook remains positive.
European stocks showed a fall yesterday amid growing concerns about the crisis in Greece, where the left financial resources for 3 weeks. We expect high volatility in the coming weeks against the background of the negotiation process between Greece and creditors to restructure the country's debt. Yesterday negative was also the news on the growth of unemployment in the euro area level to 11.3%, which is 0.1% worse than analysts' expectations. Today, was released the data on the Eurozone the UK manufacturing PMI and, which rose respectively to 52.2 and 54.4. Given the investment inflow in the euro area and the program of quantitative easing, we maintain a positive medium-term outlook for the indexes in the region.
The situation on the markets of the Asia-Pacific region is ambiguous. Thus, the Japanese market is down against the strengthening yen and publication of data on the country's manufacturing PMI, which fell in March to 50.3, which is 0.1 better than analysts' expectations. The same indicator in China, according to the HSBC Bank rose to 49.6, which is 0.3 better than expected, and in Australia to 46.3 in March from 45.4 in February. The Chinese market continues to grow, following statements by the People's Bank of China's readiness to support the country's economic growth. We recall that a slowdown in China is a major risk for the region. Our medium-term outlook on indexes remains positive.