19.09.2014 - The results of the referendum in Scotland calmed investors
American stock indexes finished the trading session with growth on the background of positive data on the labor market of the country, where the number of initial claims unemployment fell to the lowest level in the post-crisis period, 280 thousand, versus analysts' forecasts of 312 thousand. Weak data on the housing market, where the number of housing starts decreased by 160 thousand to 960 thousand, and the number of building permits fell to 1,00 million in August compared to 1.06 million in July, was not able to change the mood of investors. Today the course of trading will be affected by the data on the index of leading economic indicators. Market growth is likely to continue in the near future despite its low potential.
European stock indexes finished yesterday's trading session with growth due to positive expectations on the referendum in Scotland, which were confirmed by the preliminary results. So, after a referendum, Scotland will remain a part of Great Britain. Also yesterday took place the first auction TLTRO, on which banks received 82.6 billion versus predicted 110-150 billion. Positive for the market was also the speech of the Fed, which took place the day before, and that noted the positive forecasts for economic growth in the United States. Today, the markets will support the positive statistics on the balance of payments which rose to 18.7 billion, which is 0.1 billion. Better than the previous figure. We expect further growth on the European markets in the near future, but it will probably be short-lived.
Markets in the Asia-Pacific region continued to rise due to the devaluation of the yen and the statements of the People's Bank of China on liquidity injections into the banking sector of the country of 500 billion Yuan. Global positive continued to support investors in the region, but the markets are still under the pressure of a number of negative factors, such as the crisis in the construction sector in China, the deterioration of macroeconomic indicators in Japan due to the increase of the sales tax to 8% in April. Australian investors are in no hurry to accumulate positions in connection with the low prices for iron ore. We maintain a medium-term negative outlook for the markets in the region.