In the beginning of the week, capital floating from Ukrainian market forced. Players ignored yesterday internal and external positive. It is worth to admit the decrease of asset volumes reserved for settling securities purchase-sale agreements by 1.4% in a week, which finished on January 12.
Information of state statistics department concerning financial results before taxes growth of Ukrainian enterprises by 2.1 times during 11 months 2011 and quotations growth on European stocks are bearish factors too.
Trade volume on the UX market of applications significantly increased. The majority of shares were traded in the red zone. Liquid shares of energy-generation looked better than market. By analyst of IC IFG CAPITAL Alexey Sidorov, Centerenergo and Donbasenergo approved their defensive measures. Lower dependence of financial results on external markets and expectation of Centerenergo privatization supported quotations.
S&P agency credit rating downgrading was expected and caused the short-term effect to the markets. European indices significantly increased in the result within the positive results of French short-term bonds placement.
There was no trade in the USA and European optimism was not taken seriously on the Ukrainian market due to uncertainty in continuous growth.
Today investors moods will be affected by the positive macro-statistics from China, GDP increased by 8.9% in the 4th quarter against +8.7% expected and +9.1% previously. Retail sales index and industrial manufacture grew more than expected too. Investments to realty appeared to be lower than expected. It is also worse to note that bonds auctions of Spanish and European Financial Stability Funds will be held today. We should admit that rating of the last one was downgraded by S&P agency by 1 step after trade termination in Europe.
Positive external background was formed on the opening, which is illustrated by Brent oil price growth and growth of EUR-USD exchange rate.
Forward market analysis. Put/Call Ratio increased showing the new local maximum (1.7). The increase of this indicator makes correctional leap upwards possible.
The Futures for UX – UX-3.12. Technical analysis.
On the 4-houred timeframe the price placed below the Parabolic indicator. Stochastic and RSI are close to their minimal values. The trend is bearish.
On the quarter timeframe the price placed below the Parabolic indicator. Stochastic and RSI formed the signs to buy. The trend is bearish.
Analytical department of IC IFG CAPITAL forecasts index and futures increase by the results of the trade session.
IC IFG CAPITAL, LLC
Alexey Sidorov
ik.ifgcapital.com.ua
www.ifgcapital.com.ua
