14.05.2015 - Statistics on US retail sales worsened investors' expectations

US stock indexes ended the trading session near the previous close. Negative for investors was the news on the growth absence in US retail sales in April. Analysts expected an increase of 0.3%. At the moment, stocks are near historical highs. For the continued growth on the market is needed a strong boost. Today, the course of trading will be affected by the news on the number of initial unemployment claims in the United States and the producer price index in the country (12:30 GMT). We see no reason for updating historic highs, and at the moment there is a great probability of a short-term downward correction on the markets. Our medium-term outlook remains positive.

Major European stock markets continued to fall against the background of a weaker-than-expected euro zone GDP growth in the first quarter. So, figure was 0.4%, compared with an expected growth of 0.5%. At the same time, the German economy expanded by 0.3%, which is 0.2% worse than expected 0.4% and worse than the previous figure. The Bank of England lowered the forecast for GDP growth this year to 2.5%, against a previous estimate of 2.9% growth. In the focus of the markets are Greece talks with creditors on restructuring the country's debt, which is on the edge of default. Our medium-term outlook for the market in the region is positive due to the positive effect of quantitative easing Eurozone, but the decline may continue in the near future.

Markets in the Asia-Pacific region showed worsening sentiment on the back of weak US data which disappointed investors, as well as the strengthening of the Japanese yen, which negatively affects the quotes of Japanese exporters. The volume of new lending in China totaled 708 billion, against the expected 1.21 trillion, indicating a reduction in business activity in the country and reinforces the fears of investors on the Chinese market. Growth in orders for machinery equipment in Japan fell in April to 10.4% versus 14.9% in the previous month. We remain medium-term positive outlook, but do not exclude a further correction on the markets of the region in the near future.

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