On Thursday
02.02.2011 UX index corrected downwards after the splashing growth started in
late January. Weak stock indices dynamics on European stocks promoted the
correction.
In general, the
situation may be considered as expectations of termination of Greece government
negotiations with private investors concerning debt restructuring and determination
of needed help from the EU. Expenses for Greece may appear to be more than expected.
German magazine Handelsblatt informed that cutting 50% of debts of private
holders is not sufficient.
Results of primary
placements of Spanish and French bonds despite the dominating yield decrease
within the high demand. Quotations are supported by claim of CPR Premier that
Chinese government explores the possibility of more active financial support of
Euro-region through the EFSF and ESM.
Almost all shares of
UX index basket were traded in the red zone. Trade activity on the market of
applications significantly dropped.
The USA indices moved
in different directions. Information of unemployment applications are positive
for the last week. The productivity in 4th quarter decreased more
than expected. Workforce value per production unit increased in December and
exceeded the forecasted value. Dow Chemical’s and Merck’s reports were taken
negatively. The net loss of Dow Chemical totaled $20 million or 2 cents per
share in October-December against the net profit of $426 million or $0.37 per
share in the same period 2010. Analysts expected profit of 32 cents per share.
Merck&Co., the second largest pharmaceutical company of the USA fixed its corrected
profit which appeared to be better than expected and income, disappointing
investors in the 4th quarter. International Paper showed profits
growth in the 4th quarter, which exceeded expectations.
By analyst of IC IFG
CAPITAL Alexey Sidorov, public searches for gas used by European citizens may
be negative today, and Gazprom announced of increase of its export to Europe. Naftogaz
of Ukraine claimed that company fulfills the contracted responsibilities in
full volume.
Neutral external background
was formed on the opening.
Forward market
analysis. Put/Call Ratio is increasing for 2 days
and now it is 0.62. The sign is bearish.
The Futures for UX –
UX-3.12. Technical analysis.
On the 4-houred timeframe the
price placed above the Parabolic indicator. Stochastic and RSI are close to
their maximal values. The trend is bullish.
On the quarter timeframe the
price placed above the Parabolic indicator. Stochastic and RSI formed the signs
to buy. The trend is lateral.
Analytical department
of IC IFG CAPITAL forecasts index and futures neutral dynamics by the results
of trade session due to the Friday liquidity drop and different factors
influence.
IC IFG CAPITAL, LLC
Alexey Sidorov
ik.ifgcapital.com.ua
www.ifgcapital.com.ua
