US stock indexes showed growth yesterday and are near historic highs levels. The growth of oil prices was supported by the rise of the energy sector shares, which helped to neutralize the negative impact of weak statistics on growth in the number of initial claims for unemployment benefits in the US by 1 thousand, to 295 million, as well as the decline in sales of new homes to 481 thousand, compared with an expected 514 thousands. Today, the dynamics of prices will depend on the data on orders for durable goods (12:30 GMT). In the United States continues the corporate reporting season, which supports the optimism on the markets. We maintain our medium-term negative outlook on the US market, but do not exclude the price correction in the near future.
Major stock indexes in Europe showed mixed trends. So, the British indexes rose despite weak retail sales data, which in March showed a fall of 0.5% against the expected growth of 0.4%. At the same time manufacturing and service PMI in the euro zone fell to 51.9 and 53.7 respectively. Investors continue to monitor the Greek debt crisis. Today, the markets have been supported by the news on the growth of the index of business sentiment in Germany in April to 108.6, which is 0.1 better than expected and 0.7 better than analysts' expectations. We maintain a positive medium-term outlook for the markets of the region in connection with the program of quantitative easing in the euro area, but note the risks associated with the situation in Greece, which is trying to restructure its debts.
Markets in the Asia-Pacific region could not show uniform dynamics. The Japanese market has declined despite the positive data on the index of business activity in Japan in February, which rose by 0.1%, against an expected decline in prices by 0.9%. Negative once again was the strengthening of the yen against the US dollar. Chinese investors continue to expect additional measures to stimulate the growth of the economy, which continues to slowdown. On Monday, is projected low activity of investors in the absence of important macroeconomic background in the region and in the world.