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2020/09/18 / Erste Group Research

ATX-Immowerte: Sturmfeste Fundamente zu pessimistisch bewertet

Globale Aktien: In der letzten Woche stieg der globale Aktienmarktindex in EUR um +1%. Die überwiegende Mehrzahl der Leitindizes tendierte leicht positiv.

Der globale Aktienmarkt-Index wird unterstützt von der Aussicht auf steigende Umsätze und Gewinne im kommenden Jahr. Die erwartete positive fundamentale Entwicklung der Unternehmen wird durch eine global expansive Notenbankpolitik unterstützt. Ausblick: Die technische Korrektur der Technologiewerte dürfte auch nächste Woche andauern, aber nur moderat ausfallen. Wir rechnen, dass der globale Aktienmarktindex in den nächsten Tagen seitwärts tendieren wird.

Der ATX tendierte diese Woche wie erwartet seitwärts und schloss schließlich um 0,1% tiefer. Die schwergewichtigen Finanzwerte waren - wie ihre internationalen Branchenkollegen - von der dieswöchigen FED-Sitzung mit Aussicht auf womöglich noch jahrelange weiter tiefe US-Zinsen belastet. Eine Branche hingegen wird ein Profiteur des niedrigen Zinsniveaus bleiben – die Immobilienbranche. In unserem neuen Sektorreport haben wir alle ATX-Immos mit einer Kauf-Empfehlung eingestuft, wobei die Immofinanz unser neuer Top Pick ist. Auch nächste Woche erwarten wir keinen Ausbruch des ATX aus der Trading Range zwischen 2,200 und 2,300 Punkten.

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General information

AuthorErste Group Research
Product nameEquity Weekly
Topic in focusEquities
Economy in focusAustria
Currency in focusEuro
Sector in focusFood & Beverage, Health Care, Industrial Goods & Services, Real Estate, Technology

Erste Group related products

Name  ISIN# Erste Group products
CA IMMOAT000064135210
Marinomed Biotech AGATMARINOMED60
S ImmoAT000065225033


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