US stocks little changed yesterday, and declined under the pressure of weak statistics on manufacturing PMI in China and the United States. Thus, in America, the figure was 53.0, which is 0.3 worse than forecast, while in China fell to 47.0, which was the minimum value for more than six years. Today, the course of trading will be affected by the news on the volume of orders for durable goods (12:30 GMT) and new home sales (14:00 GMT). The improvement of these indicators will be able to support the growth of the market. Our medium-term outlook is positive, despite a possible drop in the near future.
European stock markets continued to fall against the backdrop of pessimism about the pace of growth of the Chinese economy. In addition, the negative was the fall of shares of the corporation BMW in connection with the failure of the environmental test in the European Union. The positive data on the growth of index of business sentiment in Germany up to 108.5, against the forecast of 107.8could not change the mood on the market. At the same time, the number of permits issued for mortgage lending in the UK rose to 46,7 thousand against the expected 46,3 thousand. Tomorrow a strong influence on the course of trading will have the statement of the Bank of England on monetary policy. According to our estimates, the decline on the markets may continue in the near future, but in the medium term, we expect growth on the markets.
Markets in the Asia-Pacific region showed different dynamics. The Japanese market fell drastically after the long weekend and the return of investors to the market. The manufacturing PMI in Japan in September fell to 50.9 that was 0.4 worse than expected. At the same time, the business activity index rose in July by 0.2% against an increase of 0.5% in the previous period. Tomorrow a strong impact on the Japanese market will have inflation data in the country. Chinese indexes remain volatile against the background of a slowdown in the industry and the country's GDP. In the medium term, we estimate that growth will resume, but the decline may continue in the near future.