Novosti i prognoe: tržište kapitala od 08-09-2014

Most stock indices traded lower as tensions over Ukraine weighed on markets. Market participants have concerns whether a ceasefire in eastern Ukraine would hold.

European markets advanced last week as the European Central Bank (ECB) lowered its interest rate to 0.05% from 0.15%, and the ECB President Mario Draghi said the central bank will start buying asset-backed securities, including covered bonds. Details of the asset-backed securities (ABS) program will be announced later.

The Sentix investor confidence index for the Eurozone dropped to -9.8 in September from 2.7 in August, missing forecasts of an increase to 3.2. That was the lowest level since July 2013.

German stocks were driven by the better-than-expected German trade surplus. Germany's trade surplus jumped to €22.2 billion in July from €16.4 billion in June, exceeding expectations for a surplus €17.3 billion. June's figure was revised up from a surplus of €16.2 billion.

Scotland's independence referendum weighed on British markets. A weekend poll showed 47% said "yes" to independence, while 45% said "no", with the rest undecided. That was the first time lead for "yes" campaign.

Electrolux AB shares rose 5.0% after purchasing General Electric Co.'s appliance unit.

Indexes on the close:

Name Price Change Change %

FTSE 100 6,834.77 -20.33 -0.30%

DAX 9,758.03 +11.01 +0.11%

CAC 40 4,474.93 -11.56 -0.26%

U.S. stock-index futures declined after Standard & Poor's 500 Index reached historical high.

Global markets:

Nikkei 15,705.11 +36.43 +0.23%

Hang Seng 25,190.45 -49.70 -0.20%

Shanghai Composite 2,326.43 +19.57 +0.85%

FTSE 6,796.91 -58.19 -0.85%

CAC 4,467.01 -19.48 -0.43%

DAX 9,729.63 -17.39 -0.18%

Crude oil $92.39 (-1.09%)

Gold $1265.00 (-0.15%)

(company / ticker / price / change, % / volume)

Upgrades:

Bank of America (BAC) upgraded from Neutral to Buy at Goldman, target $19

Downgrades:

Ford Motor (F) downgraded to Underweight at Morgan Stanley, target lowered to $16 from $17

Other:

Tesla Motors (TSLA) initiated with an Outperform at FBN Securities, target $325

Stock indices traded lower due to profit-taking. European markets advanced last week as the European Central Bank (ECB) lowered its interest rate to 0.05% from 0.15%, and the ECB President Mario Draghi said the central bank will start buying asset-backed securities, including covered bonds. Details of the asset-backed securities (ABS) program will be announced later.

Germany's trade surplus jumped to €22.2 billion in July from €16.4 billion in June, exceeding expectations for a surplus €17.3 billion. June's figure was revised up from a surplus of €16.2 billion.

The Sentix investor confidence index for the Eurozone dropped to -9.8 in September from 2.7 in August, missing forecasts of an increase to 3.2. That was the lowest level since July 2013.

Scotland's independence referendum weighed on British markets. A weekend poll showed 47% said "yes" to independence, while 45% said "no", with the rest undecided. That was the first time lead for "yes" campaign.

Electrolux AB shares rose 6.4% after purchasing General Electric Co.'s appliance unit.

Current figures:

Name Price Change Change %

FTSE 100 6,787.9 -67.20 -0.98%

DAX 9,736.66 -10.36 -0.11%

CAC 40 4,471.91 -14.58 -0.32%

Asian stock indices closed mixed after the better-than-expected Chines trade surplus. China's trade surplus rose to $49.83 billion in August from $47.3 billion in July. Analysts had expected the trade surplus to decline to $40.8 billion.

Chinese exports increased 9.4% in August, while imports dropped 2.4%.

China's mainland markets were closed for a holiday.

Japan's gross domestic product (GDP) was revised down to a fall of 1.8% in the second quarter from the previous decline of 1.7%.

Japan's current account surplus fell to 99.3 billion yen in July, from 125.6 billion yen in June.

Japan's economy watchers' current conditions index decreased to 47.4 in August from 51.3 in July, missing expectations for an increase to 52.4.

Japan's economy watchers' future conditions index dropped to 50.4 in August from 51.5 in July.

Indexes on the close:

Nikkei 225 15,705.11 +36.43 +0.23%

Hang Seng 25,190.45 -49.70 -0.20%

Shanghai Composite closed