10.04.2015 - Stock markets continue to grow
The growth of the US stock market continued yesterday on the background of positive statistics on the labor market in the US, where the number of initial unemployment claims rose to 281 thousand, which is 2000 better than analysts' expectations. Wholesale inventories rose by 0.3%, which is 0,1% better than the forecast. In the near future, in the center of the attention of investors will be corporate reporting. To update the historical highs will be needed a substantial stimulus. We maintain a positive medium-term outlook for markets in the US and expect low volatility today.
Major European stock markets show strong growth on the background of yesterday's publication of positive statistics on the trade balance of Germany, which showed an increase of exports and imports in the country. In addition, industrial production in the country increased by 0.2% vs. forecasted 0.1%. Today, investors were disappointed by data on industrial production in the UK, which grew by only 0.1%, vs. expected 0.3%. Today is also worth paying attention to GDP growth forecasts in the UK (14:00 GMT). Greece has made the IMF debt service payments that improved investor sentiment. The program of quantitative easing in the euro area continues to be the main driver of growth on the background of which increases the inflow of investment from the Middle East and Asia.
Markets in the Asia-Pacific region continue to grow against the background of positive external background. The Japanese market has supported the yen reduction, as well as the continuation of corporate reporting season after the end of the financial year in the country. Corporate profits in Japan show steady growth against the background of the devaluation of the national currency. At the same time, Chinese indexes supported the data on producer price index, where deflation in March has slowed to 4.6%, which is 0.2% better than the previous figure. The growth of the Australian market is constrained by low commodity prices. We maintain a positive medium-term outlook for markets in the region.