Look for:

Research Detail

2021/11/19 / Erste Group Research

Lock Down lastet auf ATX


Der globale Aktienmarktindex stieg in der letzten Woche in EUR um +1,5%. Die größte Steigerung wies der US-Aktienmarkt auf.

Hinsichtlich der erwarteten Umsatz- und Gewinnentwicklung sind die Aussichten der Unternehmen für 2022 positiv. Das Wachstum wird sich 2022 aller-dings im Vergleich zum Vorjahr signifikant verlangsamen.

Nach dem Ende der Berichtssaison erwarten wir, dass die globalen Aktienindizes seitwärts tendieren werden. Die Volatilität sollte wieder ansteigen. Die Leitindizes der entwickelten Märkte werden voraussichtlich eine bessere Performance aufweisen als jene der Schwellenländer.

Der ATX gab auf Wochensicht 2,5% ab. Neben voestalpine und OMV zeigten sich diese Woche vor allem die Finanzwerte schwach. Der heute verkündete Lock Down in Österreich für 20 Tage traf vor allem Zykliker – allen voran Bank- und Tourismuswerte – während defensive Titel wie Mayr-Melnhof und die Post zulegten. In Summe zeigte sich der Aktienmarkt unserer Meinung nach gefasst auf die sich schon länger abzeichnende Zuspitzung, sicher gestärkt von vielen bis jetzt äußerst soliden Quartalszahlen und der genauen zeitlichen Abgrenzung der Maßnahmen.

PDF Download Download PDF (1.2MB)

General information

AuthorErste Group Research
Date2021/11/19
Languagede
Product nameEquity Weekly
Topic in focusEquities
Economy in focusAustria
Currency in focusEuro
Sector in focusBasic Resources, Chemicals, Construction & Material, Industrial Goods & Services, Insurance, Technology, Travel & Leisure
Download

Erste Group related products

Name  ISIN# Erste Group products
DO & COAT00008188020
Kapsch TrafficComAT000KAPSCH90
Mayr-MelnhofAT000093820416
SemperitAT00007855550
STRABAGAT000000STR15
UniqaAT000082110374
Vienna Int. AirportAT00000VIE620
VIGAT000090850445



Decline
Accept

We use cookies and web analysis software to give you the best possible experience on our website. If you consent, these tools will be used. For more details please read our Data protection policy.

INFORMATION FOR CORPORATE AND INSTITUTIONAL CLIENTS

Any information, material and services regarding financial instruments and securities provided by Erste Group Bank AG or any of its affiliates (collectively “Erste Group“) on this and any linked website hereafter (jointly the “Websites”) shall be exclusively to investors who are not subject to any legal sale or purchase restrictions (the “Interested Party“).

The publication and distribution of information as well as offering and selling of products and services described on the Websites is prohibited by law in some jurisdictions. For this reason, persons in countries in which the publication as well as the offering and selling of products and services described on the Websites are not permitted by law, must not enter the Websites and/or acquire the products displayed on the Websites.

Neither Erste Group nor any third party shall offer access to the Websites or offer the products to especially, but not limited to citizen/residents of the United States and “U.S. person” (as defined in Regulation S under the US Securities Act 1933 as amended). For this reason, the distribution or redistribution of the information, materials and products into United States or into any other jurisdiction where it is not permitted under the applicable law, as well as to the citizens/residents of these countries shall be prohibited. The securities displayed on the Websites have not been and will not be registered under the US Securities Act of 1933 and trading in the securities has not been approved for purposes of the US Commodities Exchange Act of 1936. For this reason the securities may, inter alia, not be offered, sold or delivered within the United States or, for the account and benefit of U.S. persons.

The Interested Party is solely responsible to examine, whether he may enter the Websites under the law applicable to it. Erste Group shall not be responsible for the distribution of content of any of the Websites to individuals or entities which provide false information about their right to enter the Websites. For this reason Erste Group shall not be liable for any legal claims or damages which may result from the unauthorized entering or reading of the Websites.

By agreeing to this hereto, the Interested Party confirms that
(i) It has read, understood and accepted this Information and the Disclaimer;
(ii) It informed itself about any possible legal restriction and warrants that it is not restricted or prohibited to enter the Websites according to any law applicable; and
(iii) It does not make available the contents of the Websites to any person who is not qualified by law to enter the Websites.
(iV) It is no consumer.