During the previous week, markets continued to move downwards. Neither in Europe, nor in the US politicians showed progress in making decisions that would enhance certainty in important economic issues, while macroeconomic data did not display anything good.

Experts say that negative aftereffects of Hurricane Sandy have already started to be reflected in the US statistics. The number of jobless claims over the week that ended 9 November turned out to be significantly higher than expectations of analysts. Another unpleasant surprise was industrial output in the US shrinking 0.4% in October compared to September.

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