US stock indexes yesterday showed corrective gains. The reason for the increase in prices has become both corrective factors, and news about the provision of financial assistance to the Portuguese troubled bank Banco Espirito Santo. It is worth noting that in the United States continues the corporate reporting season, and from the companies that are included in the S&P500 index over 76% have shown results better than expected. Today the course of trading will be affected by the data on the volume of non-manufacturing PMI and factory orders in the United States (14:00 GMT). Our medium-term outlook remains negative and we expect further correction on the American stock markets.
European stocks showed mixed trends yesterday despite the provision of financial assistance to Banco Espirito Santo in the amount of $ 4.9 billion euros. Corporate reporting of European corporations look worse compared to American corporations, in addition investor confidence index in August fell to 2.7 vs. 10.1 in July, due to the new sanctions against Russia. Today, investor sentiment improved on the market due to the positive report of BMW and the expectation of the ECB meeting which may take additional measures to deal with low inflation in the euro zone, which threatens the economic recovery. We maintain a medium-term negative outlook for European markets.
Most stock markets of the Asia-Pacific region today declined. Chinese markets are supported by the positive report of Chinese corporations. Service PMI in China from the HSBC fell in July to 50.0, against 53.1. The Reserve Bank of Australia left interest rates at 2.50% and the country's trade deficit fell to 1.68 billion, against the forecast of 2.00 billion. Tomorrow we should pay attention to the data on the index of leading economic indicators in Japan. Our medium-term outlook for the markets in the region remains negative.