Last closure
On Tuesday, July 8, trades in USA have come to the end with decrease, as concern grew that equities have rallied too far too fast amid an uneven global economic recovery. Job openings rose to a recovery high in May, the Labor Department said in its Job Openings and Labor Turnover Survey (JOLTS) report. The 4.64 million U.S. job openings topped economists' expectations for 4.4 million and hinted at improvement in the economy and job market. The leader of the Minneapolis Fed said Tuesday that Americans should not accept a soft economy as a new normal. Local Federal Reserve President Narayana Kocherlakota said the job market is still too weak and inflation too low. He said the central bank should do more to encourage growth and strengthen the job market. Alcoa, the largest American aluminum producer, unofficially kicked off earnings season with its report after the market closed. Profit beat forecasts after an increase in the price of aluminum including regional delivery premiums. On the day’s result, index Dow Jones has declined by 0.69%, S&P has lowered by 0.70%, Nasdaq has decreased by 1.35%.
European stock exchanges closed with decrease of main indexes. Industrial and manufacturing production both dropped in UK in May, down by 0.7 percent and 1.3 percent respectively. Analysts had been expecting gains in both industrial and manufacturing production today, of 0.2 percent and 0.4 percent respectively in the month of May. Germany's trade surplus widened in May, as imports fell faster than exports. In seasonally adjusted terms, Germany exported goods worth a total of €92.8bil (US$126bil) in May, down 1.1% from the figure for April, the federal statistics office Destatis said in a statement. Imports dropped by 3.4% to €74.1bil. The French economy grew only 0.2 percent in the second quarter after stalling in the first three months of the year while the trade deficit widened in May from the previous month. On the day’s result, British FTSE has declined by 1.25%, CAC 40 (France) has decreased by 1.44%, DAX (Germany) has lowered by 1.35%.
Augusts’ contractual price on Brent oil, decreased by $1.30 to $108.94 per barrel.
In Ukraine
Trades on the Ukrainian stock exchange opened by growth, day passed without certain dynamics. Value of the UX index has declined by 0.35% to 1210.14. Share trades capacity on the application market was equal to UAH 8 million. Trades capacity on the derivatives market was equal to UAH 3.1 million. Total trades capacity for yesterday — UAH 32.4 million.
From ten shares of an index basket, five have risen. Leaders of growth were shares of Enakievo Metallurgical Plant (+1.23%). Worse than market looked shares of Ukrnafta (-1.84%).
Inflation in Ukraine slowed to 1% in June from 3.8% in May, 3.3% in April and 2.2% in March. Consumer prices rose 11.6% in the first half of the year. Inflation in 2015 could be less than 10%, Governor of the National Bank of Ukraine Valeriya Gontareva has said.
Premarket
External background at the opening is negative. China's annual consumer inflation sped up in June, but wholesale prices remained entrenched in deflation. The June consumer price index rose 2.3 percent from the year ago period, compared with a Reuters forecast of a 2.4 percent increase after a 2.5 percent rise in May. Producer prices meanwhile fell 1.1 percent on an annual basis, versus the 1 percent drop.
The Asian indexes are decreasing today. Nikkei has lowered by 0.08%, Hong Kong Hang Seng declining by 1.53%.
Futures on American indexes are slightly changing today from -0.02% to +0.02%.
Russian indexes as of 10:00 a.m. are showing mixed dynamics — RTS increasing by 0.21%, MICEX lowers by 0.48%.
Our expectations
We expect opening of the Ukrainian market on neutral territory.
In Europe will be published House Price Index in the U.K. (10:00 AM).
In the U.S. will be published FOMC Meeting Minutes (9:00 PM).
ITT Investment group
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