On Tuesday 29.11.11 European stock indicators moved in lateral channel. Quotations were resisted from fall with the help of expectation of EU ministers meeting results from Brussels. Demand growth on the auction on Italy’s bonds placement and positive information on consumer trust index (the USA) let indices to close the day in the green zone. There was raising dynamics in the USA too.
The majority of shares of UX index basket were traded on the negative territory. The greatest losses suffered banking sector and shares of Enakievo metallurgy works after advanced growth in the beginning of previous week. Trade volume on the market of applications significantly dropped.
Among important news for today, it is worth to admit rating action of S&P rating agency to ratings of 37 largest banks and favorable information of EU finance ministers meeting. S&P downgraded credit ratings of range of banks. Among those which suffered: Bank of America, Merrill Lynch & Co, Citigroup, Goldman Sachs Group.
Euro-group approved rendering of the next credit tranche to Ireland and Greece. Ministers reached an agreement concerning improvement of EFSF stabilization fund and pointed to the need of IMF enlargement to struggle the debt crisis.
Following statistics will be published:
- 10:55 Unemployment in Germany
- 12:00 Consumer price index in Euro-region
- 12:00 Unemployment in Euro-region
- 15:15 Changes in labor statistics of non-agricultural sphere (the USA)
- 15:30 Manufacturing in non-agricultural sphere (the USA)
- 15:30 Labor expenses per production unit (the USA)
- 16:45 Business activity index of Chicago Management Association
- 17:00 Unfinished sales on the market of realty
Asian stock indices decrease. Chinese SSEC, Japanese Nikkei, Korean KOSPI decreased by 3,27 %, 0,51 %, 0,49 % respectively. Japan published positive information on industrial manufacture. This indicator increased by 2,4% in October, against +1,0% expected and -3,3% previously.
EUR-USD exchange rate and Brent oil price show drop.
Oil price dynamics is majorly affected by growth of its deposits in the USA. During a week this figure increased by 3,439 million barrels, against -0,188 million barrels expected.
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 Parabolic indicator. Oscillators do not give the univocal signs. The trend is lateral.
On the quarter timeframe the price placed above the Parabolic indicator. Stochastic, RSI and MACD formed the sign to buy. The trend is lateral.
By analyst of IC IFG CAPITAL Alexey Sidorov, negative from decrease of banking ratings outweighs positive from Brussels information. Still bullish moods are possible to prevail if any new information showing results from debt crisis struggle is published. It is especially interesting to hear of specific sources and volumes of EFSF enlargement. Herewith it is impossible to give the outlook for today due to large statistics block to be published today.
Analytical department of IC IFG CAPITAL forecasts absence of strong movements by the results of the day. High volatility may be saved inside the day. Market estimation is neutral.
IC IFG CAPITAL, LLC
Alexey Sidorov
ik.ifgcapital.com.ua
www.ifgcapital.com.ua
