Last closure
On Wednesday, September 24, trades in USA have come to the end with growth, as new-home sales climbed to a six-year high. New-home sales climbed 18% in August from a month earlier to a seasonally adjusted annual rate of 504,000. That marked the biggest one-month jump since 1992 and the highest level of sales since May 2008, when the U.S. was in recession. New-home sales represent a small slice of the housing market — roughly a tenth of all sales — and the data are volatile and often revised. But the report follows an industry survey that showed home-builder optimism this month reached the highest level since 2005. EIA data showed U.S. gasoline stocks were down 414,000 barrels to 210.32 million barrels amid lower production and higher demand. Analysts had expected a draw of 600,000 barrels. On the day’s result, index Dow Jones rose by 0.90%, S&P has increased by 0.78%, Nasdaq grew by 1.03%.
European stock exchanges closed with growth of main indexes, as investors assessed the health of the euro-area economy and the prospects for European Central Bank stimulus after German business confidence fell for a fifth month. The Ifo Business Climate Index for industry and trade in Germany fell from 106.3 points in August to 104.7 points in September, marking a fifth consecutive monthly decrease, the Ifo institute announced Wednesday. The index dropped to its lowest level since April 2013, which fell more obviously than experts' expectation. In addition, the Federal Association of German Industry has already lowered its forecast for economic growth in 2014 from 2.0 to 1.5%. Italian consumer confidence rose slightly in September to 102 from 101.9 in August. The median estimate of seven economists was for a reading of 101. On the day’s result, British FTSE rose by 0.45%, CAC 40 (France) grew by 1.25%, DAX (Germany) has increased by 0.70%.
Octobers’ contractual price on Brent oil, grew by $0.10 to $96.95 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 0.06% to 1084.71. Share trades capacity on the application market was equal to UAH 5.4 million. Trades capacity on the derivatives market was equal to UAH 8.1 million. Total trades capacity for yesterday — UAH 30.1 million.
From ten shares of an index basket, five have risen. Leaders of growth were shares of Donbasenergo (+2.09%). Worse than market looked shares of Avdiivka Coke Plant (-2.24%).
The war in the east of Ukraine, loss of the Russian market and hryvnia devaluation have made nearly a half of Ukrainian businesses unprofitable. The State Statistics Service reported that the share of large and medium enterprises that suffered losses in the first half of the year increased from 43% in H1 2013 to 46%, while the size of their losses grew fourfold – from UAH 73.7 bn (UAH 71.6 not taking into account Crimea) to UAH 290 bn.
Premarket
External background at the opening is neutral.
The Asian indexes are showing mixed dynamics today. Nikkei rose by 1.28%, Hong Kong Hang Seng declining by 0.31%.
Futures on American indexes are decreasing today from 0.10% to 0.13%.
Russian indexes as of 9:40 AM are rising — MICEX increasing by 0.46%, RTS growing by 0.17%.
Our expectations
We expect opening of the Ukrainian market on neutral territory.
In Europe will be published private loans in the E.U. (11:00 AM).
In the U.S. will be published initial jobless claims (3:30 PM) and data on durable goods orders (3:30 PM).
ITT Investment group
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