On Tuesday 15.11.2011 correction lasted on global markets. It was caused by tension growth on markets of sovereign debts and widening of countries list which may face troubles in refinancing debts. The difference between French and German bonds reached 173 b.p., which speaks for France may become another problem of Euro-region. Pressure to the quotations was also rendered by the news from Italy, where Prime-Minister faced troubles in government reformation. Different EU statistics did not show the substantial support to stock assets. Weak data from French labor market and business expectations in Germany were published.
UX index showed the collapsing fall and high volatility in the start of trade. Growth of Brent oil price and optimistic macro-indicators of the USA let index to win back the major part of its losses. The majority of shares of UX index basket closed the day in the red zone. Trade volume on the market of applications decreased.
Favorable information on manufacturing price index, retailing sales and manufacturing activity let American indices to step into the positive territory.
Among important news it is worth to notice the optimism of our Prime Minister concerning reaching agreements with Russia of gas price decrease for Ukraine. He claimed that Ukraine will reduce its expenses by $6 billion per year after gas-negotiations will be terminated.
By analyst of IC IFG CAPITAL Alexey Sidorov, political victory of new Italian government will be taken favorably too.
Prime-Minister obtained wide political support during the formation of interim government.
American corporations reported majorly neutral today. Dell’s profit per share increased by $0,49 in the 3rd quarter and was slightly better than the expected figure of $0,47 per share. Wal-Mart’s profit per share increased to $0,96 against $0,97 per share expected.
Following substantial statistics will be published today:
- 12:00 Consumer price index of Euro-region
- 15:30 Consumer price index of the USA
- 16:00 The net inflow of foreign capital to securities of the USA
- 16:15 Industrial manufacture of the USA
Asian indices demonstrate the descending motions. Chinese SSEC, Japanese Nikkei, Korean KOSPI lost by 2,48 %, 0,92 %, 1,59 % respectively.
EUR-USD exchange rate and Brent oil price show drop.
Russian RTS index is on the negative territory.
Negative 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 line of Parabolic indicator. Oscillators do not give the univocal signs. The trend is bullish.
On the quarter timeframe the price placed below the Parabolic indicator. Stochastic formed the sign to sell. The trend is bullish.
Analytical department of IC IFG CAPITAL forecasts Futures and Index decrease by the end of trade session.
IC IFG CAPITAL, LLC
Alexey Sidorov
www.ik.ifgcapital.com.ua
www.ifgcapital.com.ua
