Ukrainian stock indices closed the week with an avalanching drop. Positive news on several issuers published on the previous day did not provide the noticeable support to the quotations. Shares of energy-generating companies showed strong descending dynamics, despite the NERC attempt to reconsider the issue of tariffs for electricity for citizens to rising. Shares of Ukrtelecom suffered huge losses, despite the increase of tariffs since September 1 for services of fixed communications by 10%. The ignorance of fundamental indicators speaks for disinterest of short-term and middle-term investors to perform purchases now and for a potential for further descending motion.
Sharpening of European domestic opposition concerning mechanisms of financial help to problem countries and the USA disastrous statistics became the main decreasing drivers.
Today, the market will be affected by the possibility of total default of Greece due to dissatisfaction of EU and IMF representatives by the accomplishment of stipulations of crediting. The event will strike the European banks again.
EUR-USD exchange rate demonstrates the descending dynamics, confirming the aforesaid.
The USA stock indices substantially decreased. Today the pressure on quotations was made by the fact that Federal Housing Finance Agency of the USA recovered the claim against 17 largest credit organizations in case of unauthorized issue of substandard lending in sum totaling $200 billion. Among the “suffered” there were: Bank of America ($57 billion), J.P. Morgan ($33 billion), Royal Bank of Scotland ($30,44 billion).
Asian indices decrease under the pressure of impulse got from the USA trade. Chinese SSEC, Japanese Nikkei, Korean KOSPI decreased by 1,34 %, 1,86 %, 4,39 % respectively.
Russian RTS index opened the day with a substantial drop.
The background on the opening is determined as negative.
Information of Retailing sales in Euro-zone will be published today on 12:00.
It is worth noticing that there will be no trade in the USA today due to national holiday. This “preserves” negative and makes a technical upward leap on the domestic market to be unlikely.
The Futures for UX Index 6.11. Technical analysis.
On the 4-houred timeframe the price stays above the Parabolic indicator. Oscillators keep the sign to sell. The trend is lateral.
On the quarter timeframe the price placed above the Parabolic indicator. Stochastic and RSI formed the signs to purchase. The trend is bearish.
Analytical department of IC IFG CAPITAL forecasts index and futures decrease by the end of trade session.
Composed by Analytical Department
IC IFG CAPITAL, LLC
Alexey Sidorov
www.ik.ifgcapital.com.ua
www.ifgcapital.com.ua
