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2021/06/18 / Erste Group Research

Sektor-Rotation von Zykliker im Technologiesektor


Der Aktienmarkt reagierte auf die Änderung des Zinsausblicks durch die FED mit einer Sektor-Rotation. Zyklische Sektor-Indizes kamen unter Druck. Der Technologiesektor befestigte sich. Der globale Aktienmarktindex stieg in der letzten Woche in EUR um +2,0%. Der S&P 500 legte in EUR um +1,9% zu, der Stoxx 600 stieg um +1,1%.

Da die Änderung des US-Zinsausblicks für die meisten Marktteilnehmer sehr überraschend erfolgt ist, dürften die Anpassungsprozesse am Aktienmarkt ein mittelfristiges Anhalten der aktuellen Sektor-Rotation bewirken.

Wir erwarten, dass der globale Aktienmarktindex in der kommenden Woche moderat positiv tendieren wird. Die Sektoren-Indizes Technologie und Gesundheit dürften besser performen als der Gesamtmarkt.

Auch in dieser Woche fällt der ATX nach starkem Beginn wieder zurück, aktuell kämpft der österreichische Leitindex mit dem Halten der 3.500-Punkte-Marke. Es scheint ein wenig, dass nach der starken Performance in der ersten Jahreshälfte (+25% gegenüber +15% des Stoxx 600) die Luft ein wenig draußen wäre, die Trendstärke hat sich zuletzt deutlich verringert.

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General information

AuthorErste Group Research
Date2021/06/18
Languagede
Product nameEquity Weekly
Topic in focusEquities
Economy in focusAustria
Currency in focusEuro
Sector in focusFood & Beverage, Insurance, Technology, Telecommunications, Travel & Leisure
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