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2022/04/01 / Erste Group Research

Aktienmärkte: Gewinnaussichten 2022 positiv


Der globalen Aktienmarktindex gab in der letzten Woche leicht nach. Er notierte in EUR um -0,4% tiefer. Der S&P 500 verlor in EUR -0,6%, der Nikkei 225 schwächte in EUR um -1,2% ab. Der Stoxx 600 befestigte sich um +0,6%. Die globale Emerging Market Index notierte in EUR um -0,4% tiefer.

Die Unternehmen des globalen Index werden laut Konsensus-Schätzung heuer ein Umsatzwachstum von +6,5% (j/j) und ein Gewinnwachstum von +7% erzielen. Die Wachstumsperspektiven sind demnach positiv. Die Bewertung hat sich durch die Gewinnsteigerungen und den Rückgang des globalen Aktienmarktindex reduziert.

Ausblick. Nach dem starken Anstieg der Leitindizes in den letzten beiden Wochen dürfte der globale Aktienmarkt in der nächsten Woche auf dem aktuell erreichten Niveau seitwärts tendieren. Wir erwarten einen leichten Anstieg der Volatilität.

Der ATX legte diese Woche um 1,7% zu, YTD schließt der Wiener ATX das 1. Quartal 2022 jedoch mit einem Minus von 14% ab. International gesucht waren diese Woche vor allem Versorger, wovon auch die heimische Verbund-Aktie profitierte. Stärkster Titel diese Woche war klar die Kapsch TrafficCom mit +18,2% nachdem ein Schiedsgericht den Entschädigungsanspruch gegen die Bundesrepublik Deutschland bestätigt hat. Nach der Stabilisierung diese Woche sehen wir den ATX kommende Woche in einer Bandbreite zwischen rund 3.300 und 3.400 Punkten.

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General information

AuthorErste Group Research
Date2022/04/01
Languagede
Product nameEquity Weekly
Topic in focusEquities
Economy in focusAustria
Currency in focusEuro
Sector in focusIndustrial Goods & Services, Technology
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Erste Group related products

Name  ISIN# Erste Group products
FACCAT00000FACC234
Kapsch TrafficComAT000KAPSCH90



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