15.07.2014 - The volume of lending in China has grown significantly

U.S. stock markets continued to rise amid of several factors. Thus, the U.S. budget deficit was the lowest in the last 6 years and totaled 365.9 billion dollars, against 509.8 billion in the same period of the last year. In addition, investors were pleased by strong financial report of the corporation Citigroup, which exceeded forecasts of experts. Today is expected to be published the data on retail sales, in the index of business activity in the manufacturing sector of New York (12:30 GMT) and business inventories (14:00 GMT). In addition, special attention should be paid to speech of Fed Chairman in the U.S. Congress (14:00 GMT). We maintain a medium-term negative outlook.

European stock markets rose yesterday after a sharp decline last week, which was caused by concerns about the stability of the banking systems of Portugal and the Eurozone as a whole. Growth could not be stopped by the negative data on industrial production in the euro area, which decreased by 1.1% vs. the forecast 0.3%. Today we should pay attention to the inflation figures in the UK (8:30 GMT) and the index of business sentiment in the Eurozone (09:00 GMT). We expect a decrease of European indexes in the medium term.

Markets of Asia-Pacific region rose following the U.S. and European indexes. Positive for the market was also the data from China, where the volume of new loans increased to 1080 billion in June compared to 871 billion in May. At the same time, foreign direct investment in June rose 2.2%, versus growth by 2.8% in May. The Japanese market was supported by the devaluation of the yen. Positive for Australia was the growth of car sales by 1.7%. Despite this, we expect a decrease at markets of China and Australia, but the Japanese indexes may continue to grow.

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