The Ukrainian market closed this week with the
decline of 1.86% and fixed at the level of 832.3 bps. Total trading volume in
the spot market amounted 59.6 mln., in the futures - 41.5 mln.
Last week
ended with the maximum decrease in the U.S. indices (-1,5-2,2%), and in sales
on the European markets (Spain and Italy indexes lost more than 2%) since June
this year. The reason for this strong pulse movement was some disappointment by
results of the EU summit, the most important point of which was the decision of
the gradual system deployment of a single banking supervision within the next
year. But the decision-making on vital issues (Greece and Spain) have not been
taken. In addition, on Thursday-Friday the American companies (mainly tech
sector) significantly worsened the presented results, heavily breaking up with
the consensus forecast
At the
beginning of this week the markets may be able to recover some of the losses,
but the overall trend of the moderate profit fixation will prevail. Of the most
important events of the week, should be noted the latest round of debates in
the U.S. presidential race, as well as the U.S. Federal Reserve meeting, which
will hardly present any surprises,
because it is the last one before the presidential election, and any
significant decisions will be taken at the end of the year. The most important
statistic of the week will be the data on the U.S. GDP for the third quarter.
According to the Bloomberg consensus forecast the market participants expect
the increasing in growth up to 1.9% q. /sq. after slowing to 1.3% in the
previous quarter.
Equally
important may become the events in Europe. On Wednesday M.Dragi the ECB
President will make a speech in the Bundestag where will stand the OMT program
and prove the relevance of these action under his mandate.
Analytical
department
IC “IFG Capital”
