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2019/05/17 / Erste Group Research

Equity Weekly


Ein Ende des Handelskonflikts der USA mit China ist derzeit nicht in Sicht. Das Gegenteil ist der Fall. Die USA haben Transaktionen verboten, die vom US-Handelsministerium als Bedrohung der nationalen Sicherheit eingestuft werden. Trotz der negativen Entwicklungen stieg der globale Aktienmarkt-index der entwickelten Märkte in der letzten Woche um +0,7%.

Für die USA und die Eurozone überwiegen derzeit die negativen Überraschungen der Wirtschaftsdaten die positiven Überraschungen. Der Überhang an negativen Überraschungen wird allerdings für beide Wirtschaftsräume geringer.

Ausblick: Wir erwarten, dass die Tendenz der globalen Leitindizes kurzfristig weiterhin stark von der politischen Auseinandersetzung um den Handelskonflikt der USA mit China geprägt wird. Da eine baldige Lösung der angespannten Situation nicht absehbar ist, wird der globale Aktienmarkt voraussichtlich in den nächsten Tagen volatil bleiben und seitwärts tendieren.

Die Wiener Börse schloss diese Woche um 1,9% fester nachdem die Woche zuvor tiefrot geendet hatte. Erste Group, OMV und Verbund schoben den ATX an. Aufatmen herrschte in Europa nach der Entscheidung von US Präsident Trump, Strafzölle auf europäische PKW und PKW-Teile um bis zu sechs Monate zu verschieben. Der Handelskonflikt der USA mit China eskalierte jedoch weiter und verunsichert die Märkte.

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General information

AuthorErste Group Research
Date2019/05/17
Languagede
Product nameEquity Weekly
Topic in focusEquities
Economy in focusAustria
Currency in focusEuro
Sector in focusBanks, Basic Resources, Construction & Material, Food & Beverage, Insurance, Media, Technology
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