Last closure
On Thursday, November 7, trades in USA have come to the end with growth, as the European Central Bank vowed to increase stimulus efforts if needed and a drop in American jobless claims bolstered optimism in the economy. First-time jobless claims dropped 10,000 to a three-week low of 278,000 in the week ended Nov. 1, the Labor Department reported. The median forecast called for 285,000. The four-week moving average, a less-volatile measure of job cuts, reached the lowest level in more than 14 years. Draghi faces pressure to do more to support a slowing euro-area economy after the Bank of Japan last week unexpectedly boosted its stimulus plan. On the day’s result, index Dow Jones rose by 0.40%, S&P has increased by 0.38%, Nasdaq grew by 0.38%.
European stock exchanges closed with growth of main indexes, as European Central Bank President Mario Draghi said policy makers are ready to implement further stimulus measures if needed to support the euro-region economy. Speaking at a press conference in Frankfurt, after the ECB left interest rates unchanged, Draghi said that the Governing Council “is unanimous in its commitment to using additional unconventional instruments within its mandate.” Draghi also said that there are “indications” that point officials toward requiring “downward revisions to forecasts.” The ECB will release its new quarterly outlook for the euro-area economy at its policy announcement in December. The Bank of England on Thursday left its key interest rate unchanged at historically low levels as policy makers try to balance Britain’s economic recovery against lower-than-expected wage growth and the risk that continued weakness in the eurozone might put pressure on the country’s economy. On the day’s result, British FTSE rose by 0.18%, CAC 40 (France) grew by 0.46%, DAX (Germany) has increased by 0.66%.
Decembers’ contractual price on Brent oil, decreased by $0.08 to $82.86 per barrel.
In Ukraine
Trades on the Ukrainian stock exchange opened by growth, day passed without certain dynamics. Value of the UX index has declined by 0.78% to 1097.47. Share trades capacity on the application market was equal to UAH 5 million. Trades capacity on the derivatives market was equal to UAH 5.2 million. Total trades capacity for yesterday — UAH 24.8 million.
From ten shares of an index basket, seven retreated. Worse than market looked shares of Enakievo Metallurgical Plant (-5.65%) and Azovstal Iron and Steel Works (-4.36%). Inflation in Ukraine in October 2014 slowed to 2.4% compared to 2.9% in September, however it is still significantly higher than 0.8% in August and 0.4% in July.
According to the State Statistics Service, as a whole since the beginning of this year consumer prices in the country have increased by 19%. In annual terms (relative to the same month last year) inflation accelerated to 19.8% from 17.5% in September, 14.2% in August, 12.6% in July, 12% in June and 10.9% in May. The National Bank of Ukraine weakened the official exchange rate of the hryvnia on November 6 by 45.87 kopecks, to UAH 13.955 per U.S. dollar.
Premarket
External background at the opening is negative. German industrial production adjusted for seasonal swings, rose 1.4% from August, when it contracted a revised 3.1%, the biggest decline since January 2009. The Asian indexes are showing mixed dynamics today. Nikkei rose by 0.52%, Hong Kong Hang Seng declining by 0.38%.
Futures on American indexes are growing today from 0.13% to 0.27%.
Russian indexes as of 10:01 AM are showing mixed dynamics — MICEX increasing by 0.11%, RTS lowers by 3.24%.
Our expectations
We expect opening of the Ukrainian market by decrease.
In the U.S. will be published nonfarm payrolls (3:30 PM) and data on unemployment rate (3:30 PM).
Federal Reserve Chair Janet Yellen on panel on policy since the onset of the crisis, with ECB's Benoit Coeure, Bank of India Gov. Raghuram Rajan, Bank of Mexico Gov. Agustin Carsens, and IMF chief Christine Lagarde, at Bank of France conference in Paris.
ITT Investment group
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