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Analytics and Market news

Tuesday, 4 October 2011

Decision on Greece is postponed again

IC IFG CAPITAL, LLC Alexey Sidorov

The majority of liquid shares of Ukrainian issuers opened the day with a decrease.Investors expect for new shakes on financial markets due to the absence of clear signs that Greece obtains the next tranche of financial help. We remind you that by common meaning Greeks have sufficient sum of money at least till November. All securities of UX index basket were traded on the negative territory. Trade volume on the market of applications was still low. Shares of Mining and Metals Complex enterprises were worse than market due to steel price reduce in CIS, which started to drop on the previous week, keep falling: quotations for storage decreased to $640 per ton, or 6% lower than $680 per ton two weeks ago.In the USA and Europe investors weekly reacted to the favorable data on business activity in September. Stock indices suffered great losses. Inability of President to make an agreement with opposition concerning the support of bill on creating working places and small business support, infrastructure development and economical growth stimulation brought negative at the closing of American trade. Morning news is various.Claim of S&P rating agency concerning possible downgrading of forecast of Great Britain credit rating can accelerate quotations drop in Europe. Information of International Association of Air Transport concerning September decrease of global traffics of passengers and freight is not optimistic too. Still, main negative comes from politicians.EU Finance Ministers cannot agree to transfer the next financial tranche to Greece. The group overcame the prohibition of Finland to provide the next tranche, though still is far from making the final decision. In addition to, by the meaning of Head of Euro-group concerning Greece budget deficit, the country must go within the predetermined limits or demonstrate better indicators.The USA published optimistic reports of vehicle manufacturers. GM sales increased in previous month by 20% against 19% expected within the demand rising for Chevrolet Silverado. The same time volumes of realized cars of Ford Motor increased by 9% against 5,9% forecasted by analysts.Among the events in Ukraine we should admit the publication of conditions for disposal of shares of energu-generating companies Zakhidenergo and Kyivenergo. By analyst of IC IFG CAPITAL Alexey Sidorov, these conditions were previously declared by Head of Governmental Property Fund, but official approval may lead to the growth of shares of energy-generating companies in case of situation improvement of external markets.Asian indices are situated in red zone. Japanese Nikki, Korean KOSPI lost by 1,05% and 3,6% respectively.

Negative external background was formed on the opening.The Futures for UX – UX-12.11. Technical analysis.On the 4-houred timeframe the price placed below the Parabolic indicator. Stochastic keeps the  sign to sell. The trend is lateral.On the quarter timeframe the price placed above the Parabolic indicator. Stochastic and MACD keep signs to purchase. The trend is bearish. 

Analytical department of IC IFG CAPITAL forecasts Futures and Index decrease by the end of trade session if index finishes the first half of the day lower than 1400 points level.



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