15.08.2014 - Investor sentiment improved

American stock market yesterday showed growth on the lack of new negative geopolitical news and positive corporate reporting of companies Cisco Systems and Wal-Mart. Negative news on the absence of the euro area GDP growth and increase in the number of initial unemployment claims by 21 thousand, to 311 thousand negatively affected the mood of traders. Today is expected the release of statistics on the Producer Price Index (12:30 GMT), industrial production (13:15 GMT) and the index of consumer confidence in the United States (13:55 GMT). We maintain a medium-term negative outlook on the American market.

European stocks rise gradually amid speculation about the possibility of launching additional measures to stimulate the economy of the Eurozone due to the fall of Germany's GDP in the second quarter by 0.2%, which is 0.1% worse than the forecast and the lack of GDP growth in the Eurozone. In addition, investors are more optimistic about the timing of the completion of military confrontation in the east of Ukraine. Today, in Italy and France is a banking holiday. In the absence of important macro, we expect a low volatility. Our medium-term outlook remains negative.

Markets in the Asia-Pacific region rose slightly following the improvement in investor sentiment in the United States and Europe. Investors are supported by the positive corporate earnings reports and expectations of further measures to stimulate economic development in the Eurozone. In spite of that the Chinese market is under the pressure of the weakness of the housing market in the country. On the following week, the central event will be the publication of data on the trade balance in Japan and China's manufacturing PMI. We maintain a medium-term negative outlook for the markets in the region.

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