03.10.2016 - Banking and energy sectors show growth

American stock indexes on Friday showed growth against the background of increasing the value of the shares of the banking sector, as well as the positive statistics on consumer confidence in the US, which rose to 91.2 in September from 89.8 previously. At the same time, the personal consumer spending in August has not changed despite the prediction of growth by 0.2%. Today, the dynamics of trading will depend on the data on the manufacturing PMI and construction spending (14:00 GMT). Among the important events of this week will be tomorrow's Alphabet presentation and publication of the report on the US labor market on Friday. Our medium-term outlook remains negative, but we do not exclude the rise in the coming days.

European stocks today show growth and among the leaders of growth are banking and energy sectors, which are supported by the growth of oil prices and speculation about a possible reduction in the claim amount of US authorities to Deutsche Bank on trading mortgage-backed securities. It should be noted that the Prime Minister of the UK said that the country's exit from the EU process will begin no later than March next year. It is worth noting that the manufacturing PMI in the euro area remained at 52.6, but rose to 55.4 in the UK, which is considerably better than the forecast of 52.1. We maintain our medium-term negative outlook and the potential of the current growth is limited.

Stock indices of Japan and Australia showed growth today, while Chinese markets will be closed in connection with the long holidays. It is worth noting that investors were cheered by the positive trend in the US stock markets and stronger data on the manufacturing PMI in Japan, which rose to 50.4, against 50.3 previously. A similar index in Australia rose to 49.8, against 46.9 before. Tomorrow volatility may increase in connection with the statement of the Reserve Bank of Australia and the index of consumer confidence data in Japan. We expect a decline in the medium term.

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