Last closure
On Thursday, October 3, trades in USA have come to the end with mixed dynamics, as small cap shares rebounded on speculation selling was overdone and as concern over Europe’s stimulus plan faded. William C. Dudley, president of the Federal Reserve Bank of New York, defended his bank-supervision staff following allegations that they had been too deferential to large financial firms. “I completely stand behind the integrity and work of our supervision staff,” he said after a speech in New York. “They are operating completely in the public interest.” Initial jobless claims have fallen under the key 300,000 mark for three straight weeks and five of the past seven, touching as low as 279,000 in mid-July. That marked a 14-year low. Yet the number probably can’t go much lower. The 279,000 figure, for example, is the 12th lowest since 1980. And new claims have only dropped below 300,000 in 105 out of 1,812 weeks in the past 35 years. That’s just 5.7% of the time. Orders to U.S. factories fell in August by the largest amount on record, but the drop was heavily weighed by an expected plunge in volatile aircraft orders. Orders declined 10.1% in August after a record increase of 10.5% in July. Both months were affected by swings in demand for commercial aircraft, which soared in July only to plummet in August. On the day’s result, index Dow Jones has declined by 0.%, S&P has remained unchanged, Nasdaq grew by 0.18%.
European stock exchanges closed with decrease of main indexes. The European Central Bank left its main refinancing rate at 0.05%. ECB President Mario Draghi said it will buy assets for at least two years, starting covered-bonds purchases this month and asset-backed securities this quarter. He signaled as much as 1 trillion euros ($1.3 trillion) in assets could be added to the central bank’s balance sheet. The Markit/CIPS UK construction PMI rose to 64.2 in, up September from 64.0 in August, beating economists' expectations for a slight fall and showing the strongest growth since the six-year peak of 64.6 recorded in January. On the day’s result, British FTSE has declined by 1.69%, CAC 40 (France) has decreased by 2.81%, DAX (Germany) has lowered by 1.99%.
Novembers’ contractual price on Brent oil, decreased by $0.74 to $93.42 per barrel.
In Ukraine
Trades on the Ukrainian stock exchange opened by decrease, day passed without certain dynamics. Value of the UX index has declined by 0.71% to 1089.79. Share trades capacity on the application market was equal to UAH 2.4 million. Trades capacity on the derivatives market was equal to UAH 3.2 million. Total trades capacity for yesterday — UAH 38.6 million.
From ten shares of an index basket, nine retreated. Leaders of growth were shares of Krukivsky Carriage Works (+0.04%). Worse than market looked shares of Azovstal Iron and Steel Works (-3.31%) and Enakievo Metallurgical Plant (-2.84%).
The Ukrainian economy will contract by 8% this year because of the war in Donbas, the World Bank on Thursday, according to AFP. The International Monetary Fund will disburse the next tranche to Ukraine in December 2014. This issue was discussed at a meeting between Ukrainian Justice Ministry representatives and a delegation of the IMF.
Premarket
External background at the opening is positive.
The Asian indexes are growing today. Nikkei rose by 0.30%, Hong Kong Hang Seng increasing by 0.81%.
Futures on American indexes are growing today from 0.34% to 0.40%.
Russian indexes as of 10:00 AM are showing mixed dynamics — MICEX increasing by 0.14%, RTS lowers by 0.17%.
Our expectations
We expect opening of the Ukrainian market on neutral territory.
In Europe will be published services PMI in Italy, France, Germany, in the E.U. and in the U.K. (10:45-11:30 AM).
In the U.S. will be published nonfarm payrolls (3:30 PM), unemployment rate (3:30 PM) and ISM Non-Manufacturing PMI (5:00 PM).
ITT Investment group
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