Questions on securities

Monday - Friday 09:00-17:00

Quick guide

Choose your country

Research Detail

2023/07/07 / Erste Group Research

Q2-Berichtssaison in den Startlöchern


Mit PepsiCo, JP Morgan und UnitedHealth Group beginnt nächste Woche die 2Q-Berichtssaison. Für den S&P 500 wird aufgrund der stark fallenden Öl & Gasprofite ein Gewinnrückgang von -6,8% J/J erwartet.

Aktien Global: In den USA wird im 2Q in 7/11 Sektoren ein Gewinnwachstum gegenüber dem Vorjahr erwartet. Der Gesamtrückgang des S&P 500 entsteht aus den zum Teil sehr stark fallenden Gewinnen in 4 Sektoren: Energie (-47%), Rohstoffe (-31%), Gesundheit (-17%), und Technologie (-4%).

Im Jahr 2024 sollte sich das US-Gewinnwachstum auf hohe +12% J/J beschleunigen. Die Ausblicke der Firmen während der Berichtssaison wird die Höhe der Gewinnerwartungen und damit die Bewegung des S&P 500 im 2H maßgeblich bestimmen. Die Bewertung des S&P 500 liegt mit einem 12-Monats Forward KGV von 19x am historischen Durchschnitt.

Ausblick: Wir erwarten, dass der globale Aktienmarktindex in der nächsten Woche seitwärts tendieren wird. Der US-Aktienmarkt sollte seine relative Stärke gegenüber dem europäischen Aktienmarkt fortsetzen und moderat besser performen. Wir prognostizieren eine Anstieg des globalen Aktienmarkts im 3Q um +2,5%.

Aktien Österreich: In einem international schwachen Aktienumfeld schlug sich der ATX diese Woche mit -0,3% vergleichsweise gut. Stärkster ATX-Wert war die OMV nach Medienberichten über Gespräche zwischen Adnoc und OMV über eine mögliche Fusion von Borealis und Borouge.

PDF Download Download PDF (1.1MB)

General information

AuthorErste Group Research
Date2023/07/07
Languagede
Product nameEquity Weekly
Topic in focusEquities
Economy in focusAustria
Currency in focusEuro
Sector in focusBanks, Food & Beverage, Technology
Download

Erste Group related products

Name  ISIN# Erste Group products
AgranaAT000AGRANA30
BAWAGAT0000BAWAG299
Kapsch TrafficComAT000KAPSCH90



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 PRIVATE CLIENTS / CONSUMERS

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.