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2019/05/10 / Erste Group Research

Equity Weekly


Die Ausweitung der Zölle auf chinesische Produkte am Freitag durch die USA führte bereits im Wochenverlauf zu einer erhöhten Verunsicherung an den Märkten. Der globale Aktienmarkt schwächte sich letzte Woche ab. Der Leitindex der entwickelten Märkte fiel in EUR um -2,2%.

Aktien Global. Bei den entwickelten Märkten sieht die Situation hinsichtlich der erwarteten Gewinne für die USA gut aus. Der Verlauf der Gewinnschätzungen ist ansteigend, d.h. die erwarteten Gewinne werden nach oben revidiert. Deshalb sollte der US-Aktienmarkt mittelfristig weiter ansteigen.

Ausblick. In der kommenden Woche sollten die Märkte moderat schwächer tendieren. Die Verunsicherung der Marktteilnehmer durch die protektionistische US-Zollpolitik dürfte weiterhin ein wichtiges Thema bleiben, jedoch weniger Einfluss auf die Volatilität des US-Aktienmarktes haben als zuletzt.

Aktien Österreich. Der ATX rutschte auf Wochensicht um 5,5% ab, konnte sich aber am Donnerstag bei seiner Unterstützung bei knapp über 3,000-Punkten halten. Damit wurde der Wiener Markt stärker als die großen europäischen oder globalen Aktienindizes von der Ausverkaufswelle bei Aktien erfasst, die von der Ausweitung der US-Zölle auf chinesische Waren ausging und damit befeuerten Sorgen um das Weltwirtschaftswachstum. Die laufende Berichtssaison in Wien wurde dadurch in den Hintergrund gedrängt.

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General information

AuthorErste Group Research
Date2019/05/10
Languagede
Product nameEquity Weekly
Topic in focusEquities
Economy in focusAustria
Currency in focusEuro
Sector in focusAutomobiles & Parts, Chemicals, Industrial Goods & Services, Technology, Utilities
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