28.04.2015 - Data on GDP growthin the UK has disappointed investors

US stock markets were not able to continue the grow after reaching historic highs, and started to correct down on the background of fixing positions ahead of tomorrow's publication of statistics on US GDP growth in the first quarter of this year, as well as the Fed statement of monetary policy. Statistics on the service PMI showed a slowdown in the sector to 57.8, vs. expected 59.1. Today the dynamics of trading will depend on the data on the index of home prices in 20 major US cities (13:00 GMT), as well as statistics on consumer confidence index in April (14:00 GMT). We maintain a positive medium-term outlook for markets in the region and we expect high volatility on the markets in the coming days.

Major stock indexes in Europe continue to decline amid growing fears of a default by Greece, which should till May 12 pay 780 million euros to the IMF. In the absence of an agreement between Greece and the creditors, the country will face a default, which will lead to a sharp fall on the markets of Europe and the world. Negative for the markets in the region have also become weak data on GDP growth in the UK, which was only 0.3% in the first quarter, which is 2 times worse than the forecast and the previous index. UK GDP growth slowed down to 2.4% per annum against the expected 2.7% will have a negative impact on the indexes of the country in the coming days. Today and tomorrow, the dynamics of trading will depend on news from Greece and statistics from the US. Our medium-term outlook for the markets of the region remains positive, but we note the risks associated with the Greek crisis.

Markets in the Asia-Pacific region showed different dynamics. The Chinese market has ceased to grow on the back of fixing the position of investors. Positive for the Chinese market remain the expectation of additional stimulus steps by the government of China. We recall that the country's economic growth continues to slow. Rising prices for iron ore has supported the Australian market. Negative for the Japanese market became weak data on retail sales in the country, a reduction of which in March compared to the same period last year was 9.7%, which is 2.3% worse than the forecast of analysts. Tomorrow in Japan is a holiday. Our medium-term outlook for the markets of the region remains positive.

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