Monday did not bring significant changes into the market. The first
trading day started in the red zone. The decrease was 1%. Trading volume on the
spot market totaled 26,3mln, the short-term - 32.6mln.
U.S. stocks hardly changed on Monday(S & P 500 -0.05%, 1410 points).
Neutral closure associated with the waiting attitude of speculators of the
forthcoming symposium in Jackson Hole.
Statistics published yesterday, played into the hands to the sellers.
Thus, the German research institute IFO observed decline of the index of
business sentiment in the country. The indicator in Germany in August totaled
102.3 points against forecasted 102.7 points. Judging by the fact that the index of business
activity is a leading indicator that characterizes the business confidence in
the future, the mood starts to deteriorate.
The local stock market will open Tuesday, most likely, with the moderate
decline. Today is expected the data on the GDP of Spain of the 2nd quarter of
2012 to be published. At the same time the news of the downward revision of
Spanish GDP of 2010-2011 came out.
Analytical department
IC “IFG Capital”
