On Wednesday 14.09.11 Ukrainian market showed a weak growth under the pressure of different signs from the USA and Europe. The majority of shares of UX index basket were traded in green zone. Shares of Ukranafta looked worse than market (-0,92%) due to diffidence of investors concerning the further oil price actions within the stepping out of current consolidation. Growing optimism in Europe is connected to the expectation of situation improvement on the market of sovereign debts in PIIGS countries. It became the main growing driver. Hopes are given for the fast implementation of unique bonds of Euro-zone, which was announced by the Head of European Commission Jose Manuel Barroso. Press-conference of the results of three-side negotiations between leaders of Germany, France and Greece was also optimistic. Thus German Chancellor Angela Merkel claimed of her persuasion in the fact that the future of Greece is definitely in borders of Euro-zone. In reply, Premier-Minister of Greece promised that principal levels of budget reduction will be reached. Bulls were not stopped by Moody’s rating agency downgrading the long-term credit rating for bonds of two French banks - Societe Generale and Credit Agricole; and claim of German Minister of Finance Wolfgang Schauble that Greece must not receive the additional aid beyond the concerted before.
European stock indices showed the confident ascending motions.
Bulls were interrupted for a short while by weak statistics from the USA. But as a result American indices closed the day on the positive territory.
Global quotation dynamics will be affected by following statistics:
12:00 Consumer price index (Euro-zone)
12:00 Labor changes (Euro-zone)
15:30 Consumer price index (the USA)
15:30 Active account (the USA)
15:30 Unemployment applications (the USA)
15:30 Manufacturing Production index of Empire State (the USA)
16:15 Industrial manufacturing (the USA)
17:00 Efficiency index of FRS Philadelphia (the USA)
Asian stock indices are on the positive territory. Chinese SSEC, Japanese Nikkei, Korean KOSPI increased by 0,01 %, 1,41 %, 1,43 % respectively.
EUR-USD exchange rate had a slight correction in the morning after several days of growth, which does not give any univocal sign.
Neutral external background was formed on the opening.
The Futures for UX – UX-12.11. Technical analysis.
On the 4-houred timeframe the price placed above the Parabolic indicator. Stochastic and RSI give sings to buy. The trend is bearish.
On the quarter timeframe the price placed below the Parabolic indicator. Oscillators formed the sign to sell. The trend is bullish.
Analytical department of IC IFG CAPITAL tends to think that European bullish impulse is exhausted and within no new drive for growth indices will at least step into the lateral trend.
