11.02.2015 - The Greek crisis continues to put pressure on stock indexes

US stock indexes yesterday showed strong growth amid expectations of extending the credit program for Greece for 6 months. At the same time, the increase was due to the company's corporate reporting Coca-Cola and other companies. Today, in the focus of investors will again be the news on Greece, as well as statistics on oil and petroleum products inventories in the US (15:30 GMT). Investors are also in no hurry to open new positions ahead of tomorrow's publication of statistics on retail sales in the country, the growth of which can lead to the achievement of levels of all-time highs. We maintain a long-term positive outlook, but do not exclude the fall in the coming days.

European markets showed no unified dynamics. Thus, the indexes of Germany and France were supported by the news about the possibility of extending the credit program for Greece. Industrial production in France unexpectedly rose by 1.5% in December, against the predicted growth of 0.3%. At the same time, industrial production in the UK fell by 0.2% against the expected growth of 0.3%. Today in Europe is not expected to be released the important statistics and investors are watching the news from a meeting of eurozone finance ministers, as well as the talks in Minsk with respect to the Ukrainian crisis. We maintain our positive outlook for the medium-term in connection with the launch of quantitative easing in the Eurozone.

Markets in the Asia-Pacific region showed a sharp dynamics. The Japanese market was closed due to the holiday in the country. Yesterday's statistics on reducing the consumer price index in China to its lowest level in 5 years may lead to additional measures to support the economy which shows a slowdown. At the same time, it is worth noting a decrease on the Australian market due to falling commodity prices. Investors ignored the positive statistics on the growth of consumer confidence to 8.0% in February, compared with 2.4% in January. In the near future indexes in the region may show a decrease, but in the long run, the stock markets in the region will likely continue to rise.

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