Last closure
On Wednesday, July 9, trades in USA have come to the end with growth, as optimism over corporate earnings overshadowed central bank concerns that investors may be growing too complacent about the economic outlook. Minutes from last month's Federal Open Market Committee meeting show that the U.S. Federal Reserve is readying itself for an end to quantitative easing by October, provided the economy continues to improve. The existing policy, which has been articulated in previous Fed talks, is that with each FOMC meeting the Fed would scale back its monthly asset purchases by $10 billion. Under this policy, the Fed would be purchasing $5 billion in assets per month going into its December meeting, where it would then taper off those remaining purchases. On the day’s result, index Dow Jones rose by 0.47%, S&P has increased by 0.46%, Nasdaq grew by 0.63%.
European stock exchanges closed with mixed dynamics of main indexes, as investors awaited minutes from the Federal Reserve’s most recent meeting. European Central Bank President Mario Draghi on Wednesday called for new rules on economic reforms that the countries in the euro zone should adopt to narrow their economic differences. In outlining a new proposal from the ECB that would further deepen the economic integration of the euro zone, Mr. Draghi said differences in the competitiveness of its 18 member economies are as much a threat to the euro zone's survival as differences in members' debt loads. UK house prices in the three months to June were up 8.8% from a year earlier, it said, up from the previous figure of 8.7%. However, evidence that the rate of house price growth is starting to moderate. On the day’s result, British FTSE has declined by 0.30%, CAC 40 (France) grew by 0.40%, DAX (Germany) has increased by 0.36%.
Augusts’ contractual price on Brent oil, decreased by $0.66 to $107.28 per barrel.
In Ukraine
Trades on the Ukrainian stock exchange opened on neutral territory, day passed with positive dynamics. Value of the UX index has increased by 1.30% to 1225.83. Share trades capacity on the application market was equal to UAH 7.9 million. Trades capacity on the derivatives market was equal to UAH 3.3 million. Total trades capacity for yesterday — UAH 35.6 million.
From ten shares of an index basket, eight have risen. Leaders of growth were shares of Centerenergo (+1.90%). Worse than market looked shares of Alchevsk Metallurgical Plant (-0.54%).
Ukraine has fulfilled all the conditions for the second tranche of the International Monetary Fund in the amount of $1.5 billion, Prime Minister Arseniy Yatseniuk said at a Cabinet meeting on Wednesday. According to the premier, after the Cabinet meeting he will have a meeting with representatives of an IMF mission.
Premarket
External background at the opening is moderately positive.
The Asian indexes are showing mixed dynamics today. Nikkei has lowered by 0.56%, Hong Kong Hang Seng increasing by 0.32%.
Futures on American indexes are decreasing today from 0.04% to 0.1%.
Russian indexes as of 10:00 a.m. are rising— RTS increasing by 0.64%, MICEX growing by 0.32%.
Our expectations
We expect opening of the Ukrainian market by growth.
In Europe will be published ECB Monthly Report (11:00 AM) and interest rate decision by Bank of England (2:00 PM).
In the U.S. will be published initial jobless claims (3:30 PM).
Federal Reserve Bank of Kansas City President Esther George speaks on the U.S. economy and monetary policy before a business and community leaders luncheon.
ITT Investment group
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