Last closure
On Monday, September 1, European stock exchanges closed with mixed dynamics of main indexes, as European Union governments weighed further sanctions on Russia and as investors awaited this week’s European Central Bank meeting. Germany's gross domestic product shrank 0.2% in the second quarter after growing 0.7% in the first quarter, confirming its preliminary estimates. The statistics office said that GDP grew 1.2% in the second quarter compared with the same period of last year, also unchanged from the first estimate. The statistics office said domestic demand added 0.1 percentage point to the quarterly figure, while net trade cut 0.2 percentage point. Among the major categories, gross capital formation fell 0.2% on the quarter, while construction investment fell 4.2%. The final Markit's Eurozone Manufacturing Purchasing Managers' Index dipped to 50.7 in August, down from 51.8 in July. A figure above 50 indicates expansion. New orders dwindled and factories suffered amid rising tensions between the EU and Russia over Ukraine. The figures come ahead of the European Central Bank meeting on Thursday. The factory PMI for Germany, Russia's biggest trade partner in the EU, fell to an 11-month low of 51.4. Meanwhile, in the bloc's second-largest economy, France, the PMI fell to 46.9. On the day’s result, British FTSE rose by 0.08%, CAC 40 (France) has decreased by 0.03%, DAX (Germany) has increased by 0.09%.
Octobers’ contractual price on Brent oil, grew by $0.73 to $103.19 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 increased by 0.51% to 1187.13. Share trades capacity on the application market was equal to UAH 5.6 million. Trades capacity on the derivatives market was equal to UAH 4.5 million. Total trades capacity for yesterday — UAH 31.8 million.
From ten shares of an index basket, eight have risen. Leaders of growth were shares of Ukrnafta (+3.01%) and Enakievo Metallurgical Plant (+2.30%). Worse than market looked shares of Donbasenergo (-1.64%).
Steel output in Ukraine dropped by one third in August and by 6-11% depending on type of metal in January – August 2014. The output of total rolled metal dropped by 11% to 17.340 mn t over the specified period, cast iron – by 6% to 18.203 mn t. The National Bank of Ukraine plans to achieve greater efficiency of its recent decision to support the hryvnia via an increase in the requirement for the obligatory sale of foreign currency income from 50% to 100% from August 21, 2014 and amended it with the purpose of toughening monitoring and supervision.
Premarket
External background at the opening is positive.
The Asian indexes are growing today. Nikkei rose by 1.24%, Hong Kong Hang Seng increasing by 0.14%.
Futures on American indexes are growing today from 0.21% to 0.25%.
Russian indexes as of 10:00 a.m. are showing mixed dynamics — RTS decreasing by 0.05%, MICEX growing by 0.19%.
Our expectations
We expect opening of the Ukrainian market on neutral territory.
In Europe will be published Producer Price Index in the euro zone (12:00 AM).
In the U.S. will be published Institute of Supply Management (ISM) Manufacturing Purchasing Managers Index (5:00 PM).
ITT Investment group
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