Last closure
On Wednesday, December 10, trades in USA have come to the end with decrease, as energy shares renewed a selloff after OPEC cut its forecast on 2015 demand for crude. OPEC cut its forecast for how much crude it will need to provide in 2015 to the lowest in 12 years amid surging U.S. shale supplies and reduced estimates for global consumption. The U.S. federal government budget deficit narrowed in November, as revenues increased and spending fell. The budget deficit was 56.8 billion U.S. dollars in November, down 58% from a deficit of 135.2 billion dollars a year earlier. In the first two months of the fiscal year 2015, which starts Oct. 1, the combined budget deficit stood at 178.5 billion dollars, down 21% from the same period a year ago. On the day’s result, index Dow Jones has declined by 1.51%, S&P has lowered by 1.64%, Nasdaq has decreased by 1.73%.
European stock exchanges closed with mixed dynamics of main indexes, as a further drop in crude prices knocked down the shares of oil majors and oil services. French non-farm payrolls undershot at -0.3%, as did French industrial production at -0.8%. The U.K. Office for National Statistics said the country's goods trade deficit narrowed to a seasonally adjusted £9.62 billion in October from a deficit of £10.51 billion in September. Economists had expected the goods trade deficit to narrow to £9.53 billion. U.K. trade data shows the extent of import and export activity, a key contributor to the overall economic growth of the U.K. On the day’s result, British FTSE has declined by 0.45%, CAC 40 (France) has decreased by 0.84%, DAX (Germany) has increased by 0.06%.
Januarys’ contractual price on Brent oil, decreased by $2.60 to $64.24 per barrel.
In Ukraine
Trades on the Ukrainian stock exchange opened by decrease, day passed with negative dynamics. Value of the UX index has declined by 2.79% to 932.24. Share trades capacity on the application market was equal to UAH 5 million. Trades capacity on the derivatives market was equal to UAH 9.8 million. Total trades capacity for yesterday — UAH 36.6 million.
From ten shares of an index basket, nine retreated. Better than market looked shares of Raiffeisen Krukivsky Carriage Works (+0.64%). Worse than market looked shares of Alchevsk Metallurgical Plant (-7.45%) and Enakievo Metallurgical Plant (-6.03%).
Ukraine Economy Minister Aivaras Abromavicius said it’s too early to say how much more aid Ukraine requires. The country may need to almost double its $17 billion emergency loan “within weeks” to avoid bankruptcy. Representatives from the International Monetary Fund arrived in Kiev this week to discuss further payments under the existing program and a possible expansion. Ukraine's real gross domestic product in the third quarter of 2014 declined by 5.3% year-on-year, whereas in the second quarter the drop was 4.7% and in the first quarter it was 1.1%.
Premarket
External background at the opening is negative. The official data in Germany released today showed consumer prices were up 0.6% year-on-year in November. Compared with October 2014, inflation remained unchanged in November 2014. The Asian indexes are decreasing today. Nikkei has lowered by 0.89%, Hong Kong Hang Seng declining by 0.70%.
Futures on American indexes are growing today from 0.19% to 0.23%.
Russian indexes as of 10:00 AM are rising — MICEX increasing by 0.16%, RTS growing by 0.16%.
Our expectations
We expect opening of the Ukrainian market on neutral territory.
In Europe will be published ECB monthly report (11:00 AM).
In the U.S. will be published retail sales (3:30 PM), initial jobless claims (3:30 PM), and data on business inventories (5:00 PM).
ITT Investment group
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