On Wednesday 26.10.2011 there were trades with high volatility and quotations moved in different directions on domestic stock market. Signs from Europe did not let the market to elaborate the unique dynamics. Quotations were supported by claim of future Head of ECB, Mario Draghi, of readiness to buy bonds of problem countries of Eurozone on the secondary market, but information that negotiations with Greece’s bonds holders terminated forwarded indices to the negative territory.
Trade volume on the UX market of applications slightly decreased, the majority of shares were traded on the green zone.
Bulls dominated in the USA. Indices moved in lateral trend, expectations for GDP sstatistics of 3rd quarter and news from Europe prevented from buying.
But in the end of trade session were played: favorable termination of EU summit, good financial results of corporations, optimistic data of orders for durables and new housing sales.
By results of the summit, EU leaders reached an agreement concerning the plan of banking recapitalization and EFSF enlargement to EUR 1 trillion. Plan of recapitalization, agreed with private creditors, provides 50% write-off of Greece debts.
Following substantial statistics will be published today:
15:30 Unemployment applications (the USA)
15:30 GDP in 3rd quarter (the USA)
17:00 Unfinished sales on the USA realty market
Asian indices grow. Chinese SSEC, Japanese Nikkei, Korean KOSPI increased by 0,33 %, 2,04 %, 1,46 % respectively. Japanese investors ignored the weak statistics on retailing sales and keep purchasing shares within the European positive. Retailing sales decreased by 1,2% in September against expected decrease by 0,1%, and previous change –2,6%. Statistics from South Korea supports growth. GDP increased by 0,2% more than expected.
EUR-USD exchange rate strives to new maximums.
Russian RTS index opened the day with growth.
Positive external background was formed on the opening.
The Futures for UX – UX-12.11. Technical analysis.
On the 4-houred timeframe the price is above the Parabolic indicator. Oscillators do not give the univocal signs. The trend is bullish.
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 forecasts Futures and Index increase by the end of trade session.
IC IFG CAPITAL, LLC
Alexey Sidorov
www.ik.ifgcapital.com.ua
www.ifgcapital.com.ua
