On Tuesday, 17.01.2012 the
majority of shares of UX index basket showed the correctional leap upwards. The
main positive was brought to the market by the block of macro statistics from
China. After playing the Chinese factor, American and European stock indices
demonstrated the lateral trend on the positive territory. Bulls were restrained
by the Greece unsolved problem, which cannot come to the deal with private
creditors concerning the debt restructuring. Also affected by crisis events on
European interbank market, disastrous financial results of Citigroup Inc.
We remind you that the profit per
share of Citigroup Inc. decreased 2 times in the 4th quarter.
Profits of another financial giant
Wells Fargo slightly increased the forecasted value, thought the quarter income
decreased more than expected.
American and German statistics
were on the bulls sides.
Investing and analytical trust
index to the German economy, estimated by ZEW investigation institute,
increased to -21.6 points in January against -53.8 points in the previous
month. Analysts expected the growth to -49.4 points. American NY Empire State industrial
activity index decreased more than expected in January too.
Quotations were also supported by
the positive statistics from auctions of Spanish, Greece’s, Belgium’s and EFSF
bonds placement.
Information of industrial
manufacture growth in 2011 was left unnoticed on the domestic market. This
figure totaled 7.3% in January-December 2011 against 2010. Trade activity on
the market of applications decreased.
Positive external
background was formed on the opening. By analyst of IC IFG CAPITAL,
Alexey Sidorov, ECB will evidently continue with active interventions on
sovereign debt markets, at least till negotiations of Greece debt restructuring
finish. This will provide the short-term growth of European stock indicators.
But expectations of corporate reports reestimation may come to the USA and lead
to correction.
Forward market
analysis. Put/Call Ratio decreased more than 2 times
and reached 0.7 points. Signal is neutral. The indicator is kept on a rather
high level.
The Futures for UX –
UX-3.12. Technical analysis.
On the 4-houred timeframe the
price placed below the Parabolic indicator. Indicators formed the signs to buy.
The trend is bearish.
On the quarter timeframe the
price placed below the Parabolic indicator. Stochastic and RSI are close to
their minimal values. The trend is bearish.
Yesterday growth was
not approved by trade volumes, that is why we are oriented to the current
bearish trend. Analytical department of IC IFG CAPITAL forecasts index and
futures decrease by the results of the trade session.
IC IFG CAPITAL, LLC
Alexey Sidorov
ik.ifgcapital.com.ua
www.ifgcapital.com.ua
