Last closure
On Wednesday, May 28, trades in USA have come to the end with decrease, as losses among retailers overshadowed gains in phone shares and utilities before a report that may show the economy contracted in the first quarter. According to the Mortgage Bankers Association's Weekly Mortgage Applications Survey, application volume decreased 1.2%, on an adjusted basis, during the week ending May 23, compared to the week prior. On an unadjusted basis, the index decreased 2% compared with the previous week. Refinance application volume decreased 1% from the previous week - this, despite the fact that mortgage rates have, on average, fallen for the past several weeks and remain at historic lows. Dollar General Corp. and Lowe’s Cos. slipped more than 2.2% after analysts cut their ratings on the shares. Allergan Inc. dropped 5.4% as Valeant Pharmaceuticals International Inc. raised its unsolicited offer to about $49.4 billion. On the day’s result, index Dow Jones has declined by 0.25%, S&P has lowered by 0.11%, Nasdaq has decreased by 0.28%.
European stock exchanges closed with mixed dynamics of main indexes. German unemployment surprisingly rose in May in adjusted terms, data from the country's labor agency showed Wednesday. According to seasonally adjusted data, unemployment increased by nearly 24,000 on the month in May, after falling by nearly 25,000 in April. Economists ahead of the release had forecast a decline of 15,000 in the unemployment total. The adjusted unemployment rate stayed unchanged at 6.7%, in line with expectations. On the day’s result, British FTSE rose by 0.09%, CAC 40 (France) grew by 0.04%, DAX (Germany) has lowered by 0.02%.
Junes’ contractual price on Brent oil, decreased by $0.21 to $109.81 per barrel.
In Ukraine
Trades on the Ukrainian stock exchange opened on neutral territory, day passed without certain dynamics. Value of the UX index has declined by 0.35% to 1214.36. Share trades capacity on the application market was equal to UAH 8.5 million. Trades capacity on the derivatives market was equal to UAH 3.3 million. Total trades capacity for yesterday — UAH 37 million.
From ten shares of an index basket, four have risen. Leaders of growth were shares of Enakievo Metallurgical Plant (+4.33%). Worse than market looked shares of Ukrsotsbank (-4.39%).
An agreement between Naftogaz and Gazprom should be signed before May 29. Otherwise, the conflict will be solved at the Stockholm arbitration court (Arbitration Institute of the Stockholm Chamber of Commerce), Prime Minister Arseniy Yatseniuk said. Yatseniuk added that Kyiv hopes that our Russian neighbors will see at least some bright idea, and the agreement between Naftogaz and Gazprom will be signed.
Premarket
External background at the opening is neutral.
The Asian indexes are growing today. Nikkei rose by 0.07%, Hong Kong Hang Seng increasing by 0.08%.
Futures on American indexes are growing today from 0.09% to 0.10%.
Russian indexes as of 10:00 a.m. are showing mixed dynamics — RTS decreasing by 0.12%, MICEX growing by 0.22%.
Our expectations
We expect opening of the Ukrainian market on neutral territory.
In the U.S. will be published data on GDP (3:30 PM), initial jobless claims (3:30 PM), and pending home sales report (5:00 PM).
ITT Investment group
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