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2021/11/26 / Erste Group Research

Corona verunsichert Aktienmärkte erneut


Der Aufwärtstrend des globalen Aktienmarktindex hielt in der letzten Woche an. Er legte in EUR um +0,7% zu. Der S&P 500 wies mit einem Zuwachs in EUR von +1,5 % eine signifikante Outperformance auf. Der Stoxx 600 notierte um -1,6% tiefer.

Durch das Umfeld niedriger Renditen, durch die hohe Liquidität aufgrund der Expansion der Notenbank-Bilanzen und wegen des erwarteten Gewinnwachstums sollten die Leitindizes der USA und Europas auch im nächsten Jahr positive Erträge erzielen.

Die Volatilität der Leitindizes dürfte aufgrund des sehr starken Anstiegs der Märkte in den letzten Wochen zunehmen. Wir erwarten, dass sich der globale Aktienmarktindex in der nächsten Woche abschwächen wird.

Der ATX verlor in der Woche nach dem Lock Down-Start 1%, wobei vor allem konjunktursensitive Werte zu den Verlierern zählten. Nur AT&S sowie die Versorger konnten sich in diesem Umfeld gut behaupten. Die Sorge vor Lock Downs in anderen Ländern sowie einer neuen Virusvariante setzte die Aktienmärkte unter Druck.

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General information

AuthorErste Group Research
Date2021/11/26
Languagede
Product nameEquity Weekly
Topic in focusEquities
Economy in focusAustria
Currency in focusEuro
Sector in focusBanks, Health Care, Industrial Goods & Services, Real Estate
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