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2022/11/25 / Erste Group Research

Aktienmärkte: Hält die Trendwende?


In der letzten Woche dauerte die Erholung des globalen Aktienmarktindex an. Er stieg in EUR um +1,5%. Der S&P befestigte sich in EUR um +2,0%, der Stoxx 600 legte um +1,4% zu.

Hinsichtlich der operativen Erträge wird vom Konsensus für 2023 global ein Anstieg von +1% (j/j) erwartet. Die größten Zuwächse der operativen Gewinne sollte die Sektoren Reise & Freizeit (+81% j/j), Medien (+26% j/j) und Versicherungen (+20% j/j) erzielen.

Ausblick: Mit dem Ende der Berichtssaison hat die Risikobereitschaft der Anleger deutlich zugenommen. Eine sinkende Volatilität und der fallende Dollarindex signalisieren, dass die aktuelle Trendwende an den Aktienmärkten anhalten sollte. Wir erwarten daher, dass die Regionen-Leitindizes und der globale Aktienmarktindex weiter ansteigen werden.

Aktien Österreich: Der ATX legte diese Woche mit +2,6% weiter zu, auch wenn die Dynamik der letzten Wochen nun deutlich nachlässt. In Österreich setzten sich die Stromversorger an die Spitze der Kursliste, nachdem der geplante Strompreisdeckel nicht so restriktiv ausfällt wie befürchtet. Schwächster Titel war die S Immo, nachdem das Übernahmeangebot von CPIPG ausgelaufen ist. Die Immofinanz gab im Anschluss bekannt, ihren Anteil an der S Immo auf über 50% aufstocken zu wollen.

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General information

AuthorErste Group Research
Date2022/11/25
Languagede
Product nameEquity Weekly
Topic in focusEquities
Economy in focusAustria
Currency in focusEuro
Sector in focusAutomobiles & Parts, Health Care, Industrial Goods & Services, Real Estate
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Erste Group related products

Name  ISIN# Erste Group products
AndritzAT0000730007100
CA IMMOAT000064135255
ImmofinanzAT0000A21KS246
Marinomed Biotech AGATMARINOMED60
PolytecAT0000A00XX90
SBOAT000094665222
UBMAT00008154020



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