03.11.2015 - On the market remains moderate optimism
American stock indexes showed confident growth yesterday on strong statistics on construction spending, which in September rose by 0.6%, which was 0.1% better than analysts' expectations. As a result, the cost to an annual figure of 1.09 trillion dollars, which was the highest level since 2008. Today, the dynamics of trading will be affected by the volume of data on factory orders in the US in September (15:00 GMT). Investor are holding back waiting for the report on the labor market in the country in October on Friday, which strongly affects the investors' expectations about the prospects for further growth. Our medium-term outlook for the market in the region remains positive.
European stock markets are consolidating around the previous close, after yesterday's growth caused by a general improvement in investor sentiment. Thus, the manufacturing PMI in the Eurozone and the UK rose to 52.3 and 55.5 respectively, against forecasts of 52.0 and 51.3. Today it became known about the increase in the number of unemployed in Spain by 82.3 thousand that is 12 thousand worse than expected. We forecast growth in European equity markets will continue in the near future against the background of the positive impact of the quantitative easing program and its possible extension after the ECB meeting on December 3rd.
Markets in the Asia-Pacific region rose on improved investor sentiment in the US and Europe. In Japan today, is a day off. Australian shares rose on the statement of the Reserve Bank on monetary policy in which was mentioned the expected improvement in the economy, despite a projected deterioration of conditions in Asia. Tomorrow, on the dynamics of trading will affect news service PMI in China, the consumer confidence index in Japan, as well as retail sales and trade balance of Australia. We expect to see a positive trend in the markets of the region before the end of this year.