The first day of the fourth quarter the Ukrainian
stock market started in the "green" zone. By results of trades the
growth amounted 1.37%, closing at 1021.66 bps Trading volume is still low.
Thus, the volume of trading in the spot market totaled 33.3mln, in the short-term
- 23.1mln.
Major European indexes closed with the
increase. Revival of demand for depreciating stocks after the decline last week
was contributed by the results of stress tests of Spanish banks, as well as
statistics on the industry in Germany and the euro area as a whole that appeared
to be a little better than expected. The news of the rising levels of
unemployment in the euro area up to 11.4% was quite expected in the market and
therefore passed practically unnoticed. The European Stoxx 600 index finished
with 1.43% plus, the British FTSE 100 index grew by 1.37%.
A new fiscal year has started in the U.S. The
first ten days of October are traditionally different with its bright dynamism.
The decisions made by investors in this period lay the foundation for the full
fiscal year. We believe the current October is no exception. The new fiscal
year begins under the sign of launched new round of quantitative easing.
According to the latest statements made by Fed QE3 the results will become
visible in the U.S. economy not earlier than a year. Thus, the investments that
are committed and planned at the beginning of the financial year have good
economic prospects under themselves. In addition, in a new round of currency
wars it is becoming increasingly urgent to protect cash flows from their
impairment. Effective tool for this is purchasing the real assets.
The
upcoming trading day won’t be rich with the external macroeconomic statistics.
Therefore, after a strong move in the previous trading session, the transition
of the Ukrainian market is likely to consolidate at current levels.
Analytical department
IC “IFG Capital”
