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European premarket from Sergei Kostenko
04.09.2012
The market continues to hope for the easing of the monetary policy of the FED...
European stock market was closed on Monday in hopes of growing that the European Central Bank to start buying unlimited short-term debt securities in troubled eurozone countries. Growth leaders were paper shares of mining companies, which surged on expectations about easing of monetary policy by China. In any case, the weak data of the final index of purchasing managers (PMI) for the manufacturing sector, which came with a reduction to 47.6 points to this possibility. Paper BHP Billiton, Anglo American Plc and Rio Tinto Plc rose from 1.03% to 2.19%.
Index DJ EURO STOXX BANK up to previous trading closed at 98.22 (+0.15%).
Paper Intesa Sanpaolo, BNP Paribas and UniCredit rose from 0.88% to 1.65%.
Major European indexes at the close of the previous trading session: FTSE 100 - 5,758.41 (+0.82%); DAX 30 - 7,014.83 (+0.63%); CAC 40 - 3,453.71 (+1.19%). Futures DJ STOXX 50 in the morning before the opening of trading in Europe is 2,463.00 (+0.16%). European stock markets will open in the green zone.
European index of "blue chips" FTSEurofirst 300, closed on Friday at 1,091.61 (+0.80%).
Before the opening of the European session US yield on 10-year T-Note is 1.57% (+0.024 points), the 10-year German Government Bonds is 1.38% (+0.044 points), and 10-year UK Government Bonds is 1.47% (+0.022 points), Spanish Government Bonds 6.85% (+0.004 points), Italy Government Bonds 5.77% (-0.076 points).
Oil futures on the morning electronic trading in London are virtually unchanged relative to yesterday's closing prices because of the expectations of new stimulus from the ECB, the Fed and the Chinese Central Bank, the likelihood of which increases of weak statistics.
Brent Oil (ICE) in morning electronic trading before the opening of Europe at 115.81 (+0.03%) and U.S. WTI oil (ICE) 97.13 (-0.01%).
Gold futures this morning at 1,696.30 (+0.52%), copper quotes are at 348.15 (+0.71%).
Commodity Index CRB Index for the previous trading day was 309.59 (+1.00%).
In the currency market, the dollar is at a slight pressure because of the expectations that the Fed still may announce to launch the new incentives in September if employment data on Friday will not be better than expected.
The dollar index ICE, which reflects the value of the U.S. currency against a trade-weighted basket of currencies, is 81.13 (-0.11%).
Prediction of the day:
The expectation that the Fed may launch new incentives, affects the dollar, but it is necessary to consider the possibility of including the printing press in the eurozone, which will undoubtedly have a negative pressure on the euro.
Events today:
Moscow time
12.30 UK index of business activity in the construction sector in August n / a; 50,1; 50,9
13.00 Eurozone Index of price producers in July n / a; 0,3% m / m, -0.5% m / m
17.00 U.S. Final data on the index of business activity in the industry in August n / a; 51,9; 51,9
18.00 U.S. index of business activity in the manufacturing sector from the ISM August n / a; 50,1; 49,8
18.00 U.S. Expenditures for construction in July n / a; 0,4% m / m, 0.4% y / y
18.00 U.S. Index of price producers from August ISM n / a; 46,7; 39,5
allday U.S. car sales year on year in August n / a; 14,1 million, 14.1 million
Sergei Kostenko
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