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2022/07/29 / Erste Group Research

Q2 Berichtssaison: Ergebnisse robust


Die Erholung an den Aktienmärkten dauerte auch in der letzten Woche an. Der globale Akti-enmarktindex legte in EUR um +2% zu, ebenso der Stoxx 600. Der S&P 500 stieg in EUR um +2,1%.

Aktien Global: Die in dieser Woche berichteten Ergebnisse fielen bei den wichtigsten Tech-nologie-Unternehmen wie beispielsweise Apple, Microsoft und Alphabet mehrheitlich gut aus. Der Technologiesektor entwickelt sich nach einer mona-telangen Underperformance nun bereits seit einigen Wochen besser als der Gesamtmarkt. Die Gewinnabschwächung 2022 (j/j) dürfte daher bereits zum Großteil eingepreist sein. Die Erholung des Sektoren-Index Technologie sollte demnach andauern.

Ausblick: In der nächsten Woche werden zahlreiche Unternehmensberichte europäischer Konzerne, wie BMW, Infineon, Adidas, Bayer, Novo Nordisk, Allianz und Deutsche Post erwartet. Es werden auch noch zahlreiche US-Firmen über ihre Geschäftsentwicklung berichten, unter anderem AMD, Caterpillar, Starbucks, Eli Lilly, ConocoPhillips, EOG Resources und Vertex Pharmaceuticals. Wir erwarten, dass sich die Erholung an den Ak-tienmärkten fortsetzen wird.

Aktien Österreich: Der ATX schloss diese Woche zwar 0,3% fester, scheiterte aber mehrmals am Überspringen der 3,000-Punkte-Marke. Unternehmensseitig berichteten OMV und Verbund neue Rekordquartale, aber auch die Industrieunterneh-men Andritz, Palfinger und AMAG übertrafen die Erwartungen. Nur ams OSRAM lag unter den Erwartungen. Die S Immo haben wir in unserer neuen Analyse auf Reduzieren abgestuft und empfehlen, das Angebot von CPIPG anzunehmen.

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General information

AuthorErste Group Research
Date2022/07/29
Languagede
Product nameEquity Weekly
Topic in focusEquities
Economy in focusAustria
Currency in focusEuro
Sector in focusBasic Resources, Industrial Goods & Services, Oil & Gas, Real Estate, Technology, Utilities
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Erste Group related products

Name  ISIN# Erste Group products
AMAGAT00000AMAG33
ams OSRAMAT0000A18XM45
AndritzAT000073000781
OMVAT0000743059122
PalfingerAT00007583057
S ImmoAT000065225010
VerbundAT0000746409112



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