25.03.2015 - Stock markets are waiting for incentives for further growth

Major US indexes showed a slight decline against the publication of statistics on inflation, which showed growth of the consumer price index by 0.2%. We recall that in recent months, inflation has declined. The growth of the consumer price index increases the likelihood of raising interest rates by the Fed in June. It is worth noting the number of new home sales rose in February to a maximum since 2008 - 539 thousand. The market is in a state of uncertainty, and for further movement are necessary new incentives. Today, the course of trading will be affected by the statistics on durable goods orders. We maintain our medium-term negative outlook on the US market.

Major European stock markets showed growth yesterday. Exceptions were the British actions that showed a slight fall, which was caused by weak data on the consumer price index, which remained unchanged in February compared to the same period last year. Analysts had expected a decline of 0.1% growth. Manufacturing and service PMI in the Eurozone pleased investors and increased to 51.9 and 54.3 respectively. Today was released a positive data on the growth of index of business confidence in Germany to 107.9 in March from 106.8 in February. Greek question remains in the focus of the market, but the program of quantitative easing continues to show positive on the stock indexes in Europe. In this regard, we maintain a positive outlook for the medium-term.

Markets in the Asia-Pacific region did not show uniform dynamics. The Japanese market has shown growth despite a decline in US indexes. The reason for optimism was the completion of the fiscal year in Japan on March 31, after which will be published reports of major corporations, most of which have significantly improved its financial performance due to the weakening of the yen. Chinese market is pressurized by weak data on manufacturing activity in the country. Increased activity of traders is expected on Friday after the release of a large block of statistics on the Japanese economy. We maintain a positive medium-term outlook for markets in the region, despite the risks associated with slowing growth in China.

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