Last closure
On Monday, February 29, trades in USA have come to the end with decrease, as oil prices resumed their upward momentum after China’s central bank announced further stimulus measures. China's central bank announced a cut in its reserve requirement ratio for commercial banks by 0.5 percentage points. The move of the People's Bank of China the first of its kind this year. Home buyers signed 2.5 percent fewer contracts in January to buy existing homes compared to December. The expectation had been for a slight gain. Pending home sales index from the National Association of Realtors, an indicator of future closed sales, is now just 1.4 percent higher than it was in January of 2015. On the day’s result, index Dow Jones has declined by 0.74%, S&P has lowered by 0.81%, Nasdaq has decreased by 0.71%.
European stock exchanges closed with growth of main indexes. Inflation for the euro zone turned negative in February, coming in at -0.2 percent, according to statistics agency Eurostat. This development could bolster the European Central Bank's case to deliver another round of policy easing at its next meeting in March. On the day’s result, British FTSE rose by 0.02%, DAX (Germany) has lowered by 0.19%, CAC 40 (France) grew by 0.90%.
May contractual price on Brent oil, grew by $0.87 to $35.97 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 0.15% to 630.93. Share trades capacity on the application market was equal to UAH 1.5 million. Trades capacity on the derivatives market was equal to UAH 4 million. Total trades capacity for yesterday — UAH 12.2 million.
From ten shares of an index basket, four have risen. Leaders of growth were shares of Enakievo Metallurgical Plant (+7.76%). Worse than market looked shares of Avdiivka Coke Plant (-2.52%). Public joint-stock company Ukrnafta has proposed that the Ukrainian government revises oil royalty via connecting it to the price of Urals oil on the global market. The company proposed that quotations of Urals Mediterranean and Urals Rotterdam are lower than $30, the royalty is set at a zero. With the quotations in the $30-60 range, the royalty is halved, and if the price of Urals oil is over $100 the royalty is increased by 1.3 times.
Premarket
External background at the opening is moderately positive. The official manufacturing Purchasing Managers' Index in China came in at 49.0, below forecasts for 49.3 and January's reading of 49.4. A number below 50 points indicates a decline in factory activity, while one above suggests expansion. The Asian indexes are growing today. Nikkei rose by 0.37%, Hong Kong Hang Seng increasing by 1.17%.
Futures on American indexes are growing today from 0.18% to 0.20%.
Russian indexes as of 9:52 EET are rising — MICEX increasing by 0.44%, RTS growing by 2.42%.
Our expectations
We expect opening of the Ukrainian market on neutral territory.
In Europe will be published manufacturing PMI in Germany and in the E.U. (11:00 EET) and data on German unemployment change (11:00 EET).
In the U.S. will be published ISM manufacturing employment (17:00 EET) and ISM manufacturing PMI (17:00 EET).
ITT Investment group
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