Concorde Capital Released November 15 Ukrainian Market View
OREANDA-NEWS. November 16, 2011. Concorde Capital released daily Ukrainian market view:
The UX closed down just 0.12% after spending most of the day deeper in the red. The two worst performers on the local exchange were local lenders UniCredit Bank Ukraine (USCB UK) -3.01% and Raiffeisen Bank Aval (BAVL UK) -2.78%, following news UniCredit group took a EUR 10 bln loss in the 3Q11 and wrote down EUR 9 bln, which included its entire operations in Ukraine and Kazakhstan.
U.S. stocks rose on Tuesday, rebounding from early losses after the U.S. Commerce Department reported a 0.5% increase in retail sales (vs. the median economist forecast of 0.3%) and the Federal Reserve Bank of New York’s index of economic activity edged upward — its first positive reading since May. Asian stocks and U.S. equity futures are falling this morning, while the euro has sunk to a five-week low against the US dollar on concern over economic growth in China and Japan and signs leadership in Italy will not be able to contain the country’s debt crisis.
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