On Thursday 28.07.2011 the majority of domestic liquid shares won back the losses of Wednesday. Bulls were empowered by the corporate reports and information from the USA labor market.
The UX index moves in narrow passage, trade volume keeps on the low level. These facts witness that the majority of players keeps away from actions.
The USA stock indices opened the day with growth, but then stepped into the red zone, because investors could not see the contingence of parties concerning governmental debt limit raise and budget deficit reduction.
Voting in the House of Representatives concerning the debt limit of the USA was planned on Thursday, but it was cancelled by the Republicans, who are the plurality in the House, because many members of the party did not uphold the bill of John Boehner. Experts tend to explain that there is a high polarization between Republicans and Democrats, which confronts with quick decision-making.
European indices have a strong resistance under the pressure of weak unemployment statistics, negative corporate reports and the next Greece credit rating downgrade. 140 companies out of Stoxx Europe 600 published their financial reports since July 11, 51% of them were worse than it was expected.
The USA corporate reports keep exceeding analysts’ expectations. Today the quotations will be affected by optimistic data of MetLife life-insurance company and by the report of Starbuck operator of coffee house chain. Moody’s rating agency placed Spanish credit rating (Aa2) to the list for reconsideration with a possibility to downgrade; this news will bring pessimism today.
Asian stock indices majorly decrease. Japanese Nikkei, Korean KOSPI dropped by 0,69 %, 1,05 % respectively. Chinese SSEC increased by 0,23%. The downgrading dynamics is supported by weak statistics. Industrial manufacture of Japan increased in June by 3,9% against 4,5% expected. The previous figure was +6,2%. Japanese unemployment level totaled 4,6% in June, against 4,5% expected. The previous figure was 4,5%.
South Korean industrial manufacture increased by 0,7% in June (monthly estimation), versus expected +1,2% and previous figure +1,7%.
Following substantial statistics will be published today:
12:00 Consumer price index of Eurozone.
15:30 The USA GDP.
15:30 Workforce cost index (the USA).
16:45 Chicago PMI index (the USA).
16:55 The University of Michigan consumer sentiment index (the USA).
Russian RTS index opened the day with drop.
The Futures for UX Index 6.11. Technical analysis.
On the 4-houred timeframe the price placed below the Parabolic indicator. Stochastic and RSI are on the territory of reselling. The trend is lateral.
On the quarter timeframe the price broke the upper line of Parabolic indicator. Stochastic and RSI formed the sign to sell. The trend is bearish.
Analytical department of IC IFG CAPITAL forecasts index and futures decrease by the end of trade session, due to extremely negative external background and lack of events expected in the nearest future, which can bring drastic changes.
