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Daily commentary from the company “Arbat Capital

Important statistics yesterday were not enough, and it was heteropolar. On the one hand, the volume of industrial production in France in January was much higher expectations of analysts. On the other – a similar figure for the UK fell by 0.4%, while the predicted moderate growth. Nevertheless, the leading European indexes have added up to 0.7-0.9% of the day, the U.S. S & P rose to close at 0.5%. Futures London Brent yesterday continued to consolidate near the level of $80, euro / dollar rose slightly above the mark of 1.36.
All week, markets were waiting for today’s statistics from the Celestial Empire, but was not very impressive. The greatest concern remains a rapidly growing inflationary pressures. Growth of consumer prices accelerated in February in China to 2.7% yoy against 1.5% in January. Against this background, given the rapid rates of growth of Chinese economy as a whole, the authorities may step up efforts to curtail the measures to stimulate the economy and the tightening of monetary policy. Of course, such measures do not add optimism to investors and could lead to another global corrective wave. As a consequence of the Asian markets on Thursday dominant negative dynamics, and futures for U.S. indices losing now about 0.3%. The opening of trading on domestic stock exchanges today as expected negative, while sales in the second half of the day may be accelerated if the active profit-taking will begin on the European sites. From the statistic data on important now expect only a weekly report on initial applications of Americans on the dole.

Daily prepared Alexei Pavlov, the deputy head of analytical department Arbat Capital.