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2019/05/03 / Erste Group Research

Equity Weekly

Der globale Aktienmarkt tendierte in der letzten Woche leicht schwächer (-0,2%). Der S&P 500 und der europäische Aktienmarktindex fielen um jeweils -0,3%. Der Nikkei gab um -0,2% nach. Der globale Schwellenländerindex stieg hingegen moderat an.

Die Ergebnisse der großen Technologiefirmen waren im Rahmen der Erwartungen. Beim US-Technologiesektor gibt es derzeit einen Überhang an positiven Gewinnrevisionen versus der negativen Revisionen. Mittelfristig sollte der Sektor weitere Zugewinne erzielen.

Ausblick. Wir erwarten in der kommenden Woche moderate Zugewinne der globalen Leitindizes. Die Risikobereitschaft der Anleger dürfte wieder ansteigen, zumal andere Assetklassen (v.a. Staatsanleihen) unattraktiv sind. Die Berichtssaison hat ihren Höhepunkt überschritten.

Aktien Österreich. Der ATX verlor in der verkürzten Handelswoche auf Wochensicht 1,7% und entwickelte sich schwächer als andere europäische Aktienindizes. Impulse kamen von der Q1-Berichtssaison, die diese Woche mit acht Unternehmen voll durchstartete. Nach der Korrektur der letzten 2 Wochen erwarten wir für die nächsten Wochen wieder einen moderaten Anstieg.

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General information

AuthorErste Group Research
Product nameEquity Weekly
Topic in focusEquities
Economy in focusAustria
Currency in focusEuro
Sector in focusBanks, Basic Resources, Construction & Material, Industrial Goods & Services, Oil & Gas, Technology, Telecommunications

Erste Group related products

Name  ISIN# Erste Group products
ams OSRAMAT0000A18XM40
Telekom AustriaAT000072000828


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