02.03.2015 - Investors’ sentiment improved

US stocks failed to show growth and to renew historical peaks amid the contradictory macro. Thus, the GDP growth in Q4 was 2.2%, compared with an expected growth of 2.1% and a previous estimate of 2.6%. The consumer confidence index fell to 95.4 in February against 98.1 in January. Analysts predicted that the figure will be 94.2. Today, the course of trading will be affected by the data on personal income and consumer spending (13:30 GMT), the manufacturing PMI and construction spending in the US (15:00 GMT). We maintain a positive medium-term outlook for the US market, but in the near future we can see a correction.

European stock markets continued to rise amid optimism associated with the launch of quantitative easing in the euro area in March. Today was published on the Eurozone manufacturing PMI, which fell by 0.1, to 51.0, and in the UK rose by 1.0 to 54.1. The fall in consumer prices in the euro area in February slowed to 0.3%, against the expected 0.5% and the unemployment rate fell to 11.2%, which is 0.1% better than the previous figure. We maintain a positive medium-term outlook for the markets of the region and note the reduction of the negative effect from the Greek crisis.

Markets in the Asia-Pacific region showed a positive trend against the background of statistics. Thus, the manufacturing PMI in Japan rose to 51.6, which is 0.1 better than expected. The same indicator in China totaled 50.7 against 50.1 expected. It is worth noting that the People's Bank of China lowered interest rates by 0.25% to 2.5% for deposits and 5.35% for loans, which should improve the situation on the markets of the region. Sales of new homes in Australia increased by 1.8%, but the manufacturing PMI fell to 45.4 in February, against 49.00 in the previous period. We maintain a positive medium-term outlook for the markets of the region.

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