19.08.2016 - Investors fear the uncertainty on the markets

American stock indices ended the trading session on Thursday about the previous close levels. The investors are in no hurry with their purchases despite the positive impact of rising oil prices, which support energy stocks and a positive quarterly reports of retailer Wal-Mart. It is worth noting that US indices are near historic highs, and we do not see drivers for continued growth in the near future. In this regard, there is a high probability of the beginning of a downward correction against the background of fixing positions by investors. Our medium-term outlook also remains negative.

European stocks yesterday showed moderate growth. Investors reacted positively to the fact that in the minutes of the previous meeting of the ECB noted the limited influence of the results of the British referendum on the economy of the euro area, but on the other hand, this situation may unpredictably affect the global economy. In addition, the central bank of the Eurozone announced their intention to strengthen the stimulus measures if necessary. The consumer price index in the euro zone in July was 0.2% compared with the same period last year, which coincided with forecasts of analysts. Today and on Monday will not be published statistics that can significantly impact the investors’ sentiment. Our medium-term outlook remains negative.

Major stock indexes in the Asia-Pacific region have completed the last trading session of the week with a slight change amid uncertainty over future growth prospects for the US stock exchanges. Price of the yen stabilized after strengthening in recent weeks, but this fact continues to have a negative impact on market dynamics. The Australian market is still supported by the recent news about the decline in unemployment to 0.1% to 5.7%. The risk of reduction on the stock markets in the region remains strong and we maintain a medium-term negative outlook.

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