Last closure
On Monday, March 17, trades in USA have come to the end with growth, as better-than-forecast economic data overshadowed concern over Ukraine. Russian shares rallied with the ruble. A gauge of manufacturing in the New York area rose less than forecast, climbing to 5.61 in March from 4.48 in February. Analysts surveyed by Bloomberg had predicted a reading of 6.50. The Federal Reserve’s gauge of industrial production rose 0.6% in February, following a revised 0.2% decline in January. Economists had forecast output would climb 0.2%. About 97% of voters in Crimea chose to leave Ukraine and become part of Russia in a referendum deemed illegal by the U.S. and the European Union. The U.S. and EU imposed sanctions on Russia in the worst dispute between former Cold War foes in more than two decades. EU foreign ministers agreed to freeze assets and impose visa travel bans on 21 Russians, Crimeans and former Ukrainian officials. U.S. measures were aimed at the wealth of Russia’s supporters, the White House said in a statement. While Western leaders left open the option of extending the sanctions, they kept more punitive steps in reserve. On the day’s result, index Dow Jones rose by 1.13%, S&P has increased by 0.96%, Nasdaq grew by 0.81%.
European stock exchanges closed with growth of main indexes, as companies from RWE to Vodafone rose amid renewed merger-and-acquisition activity. euro zone's consumer price index rose 0.3% last month, below expectations for a 0.4% increase, after a 1.1% decline in January. Year-on-year, consumer price inflation rose 0.7% in February, compared to expectations for a 0.8% increase, after a 0.8% gain in January. However, core consumer price inflation, which excludes food, energy, alcohol, and tobacco, rose 0.5% in February, after a 1.7% fall the previous month and in line with market expectations. EU foreign ministers agreed to impose travel bans on 21 Russians, Crimeans and former Ukrainian officials, following a meeting in Brussels. The ministers also froze the group’s assets. The leaders of the 28-nation EU will discuss further measures when they meet later this week. On the day’s result, British FTSE rose by 0.62%, CAC 40 (France) grew by 1.32%, DAX (Germany) has increased by 1.37%.
Aprils’ contractual price on Brent oil, decreased by $0.03 to $108.54 per barrel.
In Ukraine
Trades on the Ukrainian stock exchange opened on neutral territory, day passed with negative dynamics. Value of the UX index has declined by 0.93% to 994.25. Share trades capacity on the application market was equal to UAH 4.5 million. Trades capacity on the derivatives market was equal to UAH 11 million. Total trades capacity for yesterday — UAH 28 million.
From ten shares of an index basket, three have grown in price. Leaders of growth were shares of Azovstal Iron and Steel Works (+2.01%). Worse than market looked shares of Ukrsotsbank (-6.77%) and Enakievo Metallurgical Plant (-4.65%).
The Ukrainian government considers termination of economic relations with the Russian Federation inadvisable. First Vice Prime Minister of Ukraine Vitaliy Yarema told a briefing. “There are many industrial enterprises, which are located in Ukraine, and a great number of people, working at these joint stock enterprises and making products for the Russian Federation. If economic cooperation is stopped now, both Russia and Ukraine will incur economic losses,” Vitaliy Yarema said.
Premarket
External background at the opening is moderately positive. President Vladimir Putin on Monday evening signed a decree recognizing Crimea as an independent state following its vote to secede from Ukraine and join Russia in a referendum that has fanned the worst East-West crisis since the Cold War. Vladimir Putin on Tuesday morning approved a draft bill for the annexation of Crimea in defiance of sanctions imposed on senior Russian officials by the US and EU. Gains in property prices in 70 Chinese cities continued to moderate in February after slowing in January for the first time in a year. Average new home prices in 70 Chinese cities rose 8.19% in February from a year earlier.
The Asian indexes are growing today. Nikkei rose by 0.94%, Hong Kong Hang Seng increasing by 0.35%.
Futures on American indexes are decreasing today from 0.03% to 0.10%.
Russian indexes as of 10:01 a.m. are showing mixed dynamics — RTS decreasing by 0.01%, MICEX growing by 0.61%.
Our expectations
We expect opening of the Ukrainian market on neutral territory.
In Europe will be published Zentrum fur Europaische Wirtschaftsforschung economic sentiment index in Germany (12:00 a.m.) and in the E.U. (12:00 a.m.).
In the U.S. will be published building permits (02:30 p.m.), core consumer price index (02:30 p.m.), housing starts (02:30 p.m.), and treasury international capital net long-term transactions (03:00 p.m.).
ITT Investment group
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