12.03.2015 - Quantitative easing in the euro area has supported the growth of markets

The US stock market showed a decline amid growing expectations of interest rate hikes in June by the US Federal Reserve. Positive for the market is the launch of quantitative easing in the Eurozone, but the statistics for the slowdown in industrial growth in China to 6.8% for the year, compared with an expected 7.7% worsened the mood of traders. Today, the focus of investors will be on the data on retail sales and the number of initial unemployment claims in the US (12:30 GMT). Our medium-term outlook remains positive, but we expect further correction in the near future.

European stocks showed strong growth due to the positive from the start of the quantitative easing program and the statements of Mario Draghi on wide range of tools to stimulate inflation in the euro area. The weak euro support shares of exporters. The UK market has shown moderate growth against the backdrop of weak data on industrial production, which in January fell by 0.1%, against an expected growth of 0.2%. Industrial production in the euro area fell by 0.1% in January, against the expected growth of 0.3%, which disappointed investors. The focus of the remain on the talks of Greece with creditors. We maintain a positive medium-term outlook for European stock markets.

Markets in the Asia-Pacific region showed strong growth on the background of positive investor sentiment due to the launch of quantitative easing in the euro area, which will support the equity markets. Consumer confidence in Japan rose to 40.7, which is 0.8 better than analysts' expectations. The stability of the yen also pleased investors. The volume of new lending in China totaled 1.02 trillion in February, which is much better than the forecast 755 billion. Australian investors were supported by the unemployment figures, which declined by 0.1% to 6.3% in February. We maintain a positive medium-term outlook for the markets of the region.

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