08.09.2014 - Stock markets expect new drivers

The main American indexes on the last trading day of last week showed a slight increase despite the controversial statistics on the labor market. Thus investors cheered the data on reduction the unemployment rate to 6.1%, which is 0.1% better than in the previous month, but the number of new jobs outside the agricultural sector grew by only 142,000, versus the expected growth of 226,000. We expect low volatility of trading. The course of trading may be affected by statement of the Treasury Minister Jack Lew (12:45 GMT). Our medium-term outlook remains negative.

Most European indexes fell on Friday due to investors' fears that the stimulus measures of the ECB will not be enough to revive the economy in the region. Statistics showed that Eurozone GDP growth in the second quarter remained at the same level of 0.00%. German investors were pleased by the news on the growth of industry in the country by 1.9% in July vs. the forecast of 0.5%. Ceasefire in the east of Ukraine also supported the market, but as a result, we saw a continuation of the fighting and the accumulation of forces from both sides of the conflict. Today we should pay attention to the index of investor confidence in the Eurozone (08:30 GMT).

Markets in the Asia-Pacific region have not changed much in connection with the consolidation of the western markets and the absence of clear signals regarding the future direction of the markets. Positive for the Chinese and Australian markets was the news on the growth of China's trade surplus to 49.8 billion, against the forecast of a decline to 40.8 billion. At the same time, GDP in Japan in the second quarter fell by 1.8%, while the surplus of balance of payments fell to 0.10 trillion. Tomorrow the course of trading may be affected by publication of the minutes of the meeting of the Bank of Japan. We maintain a medium-term negative outlook for the markets in the region.

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