10.02.2015 - The Greek crisis continues to put pressure on the world stock indexes
US stock indexes showed a decrease on the background of another growth of investor concerns regarding Greece's decisions to increase the minimum wage, to suspend the privatization, which is contrary to agreements with creditors. Investors fear exit of Greece from the eurozone, which is negatively displayed on global stock markets. The focus of investors is corporate reporting, which supports the US stock indexes. Today, it is worth paying attention to the data on the index of optimism in small business (14:00 GMT) and wholesale inventories in the US (15:00 GMT). We maintain a long-term positive outlook for the US market, but in the near future we can see the continuation of a downward trend.
European stock markets fall amid growing fears of a Greek exit from the eurozone and default of the country. Tomorrow will be a meeting of eurozone finance ministers at which will discuss the Greek question. The Greek government on 16 February may request continuation of the current loan program for 3 months for the settlement of the question of restructuring the country's debt. It is worth noting that the volume of industrial production in the UK fell in December by 0.2%, compared with an expected growth of 0.3%. The comparable figure in France unexpectedly rose by 1.5%, while in Italy increased by 0.4%. We expect increased volatility in the near future and look forward to the negative impact of the Greek crisis on the European indexes in the near future.
Markets in the Asia-Pacific region showed mixed trends. Strengthening of the yen amid growing demand for defensive assets has led to a decrease in quotations of export-oriented companies. At the same time, growth in China restrained by the publication of statistics on the consumer price index, which showed a slowdown to 0.8% compared to the same period of the last year. Analysts had expected a decline to 1.1%. Macrostatistics from China continues to disappoint investors and will lead to fall of indexes in the future. We forecast a decline of markets in the region in the near future, but in the long term growth of according to our estimates will continue.