Last closure
On Tuesday, September 23, trades in USA have come to the end with decrease, as small-cap companies retreated for a third day. The U.S. Treasury Department announced steps that will make it harder for U.S. companies to move their address abroad to cut taxes, a practice known as inversions. Federal Reserve Bank of Minneapolis President Narayana Kocherlakota said policy makers should improve communications by saying how long they expect it will take for price increases to reach their target level. Chain Store Sales Index edged up 0.1% in the week ended Saturday from the previous week on a seasonally adjusted, comparable-store basis. On a year-to-year basis, the weekly reading increased 4.1%. U.S. house prices rose only 0.1% on a seasonally adjusted basis in July from the previous month, according to the FHFA's House Price Index. That was down from an increase of 0.3% in June, but represents the eighth straight monthly gain. On the day’s result, index Dow Jones has declined by 0.68%, S&P has lowered by 0.58%, Nasdaq has decreased by 0.42%.
European stock exchanges closed with decrease of main indexes, as manufacturing growth slowed in the euro area. Euro zone business activity has expanded at a slightly weaker pace than expected in September as firms cut prices for the 30th month in a row. A manufacturing PMI for the euro zone nudged down to 50.5, in line with the consensus forecast but below August's 50.7. The output index, which feeds into the composite PMI, held steady at 51.0. Preliminary German PMI Manufacturing decreased to 50.3 in September, from 51.4 in August, according to data released by Markit. The result is below market consensus of 51.2 points. PMI Services grew to 55.4 in September, following a 54.9 reading the previous month and against expectations of a slide to 54.6. French manufacturing and services PMI fell to 49.1 from 49.5 in August. The French economy has failed to grow in both Q1 and Q2. The budget deficit is rising so one has to expect more gloom from France in H2 2014. On the day’s result, British FTSE has declined by 1.44%, CAC 40 (France) has decreased by 1.87%, DAX (Germany) has lowered by 1.58%.
Octobers’ contractual price on Brent oil, decreased by $0.12 to $96.85 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 0.65% to 1085.35. Share trades capacity on the application market was equal to UAH 8.4 million. Trades capacity on the derivatives market was equal to UAH 13.6 million. Total trades capacity for yesterday — UAH 45.1 million.
From ten shares of an index basket, six have risen. Leaders of growth were shares of Donbasenergo (+3.89%) and Azovstal Iron and Steel Works (+3.05%). Worse than market looked shares of Alchevsk Metallurgical Plant (-2.48%) and Enakievo Metallurgical Plant (-2.34%).
Starting from January 21, the outflow of deposits has amounted to UAH 104 bn, which is 30% of the banking system. Outflow of dollar deposits accounted for US $6.5 bn, while hryvnia deposits accounted for the rest, informed Director of the NBU General Monetary Policy Department Olena Shcherbakova.
Premarket
External background at the opening is neutral.
The Asian indexes are showing mixed dynamics today. Nikkei has lowered by 0.24%, Hong Kong Hang Seng increasing by 0.63%.
Futures on American indexes are growing today from 0.19% to 0.22%.
Russian indexes as of 10:00 AM are rising — MICEX increasing by 0.80%, RTS growing by 1.45%.
Our expectations
We expect opening of the Ukrainian market on neutral territory.
In Europe will be published German Ifo business climate index (11:00 AM).
In the U.S. will be published new home sales (5:00 PM).
ITT Investment group
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