2024/04/12 / Erste Group Research |
US-Banken: Niedrige Bewertung, Gewinne steigen erst 2025 Der globale Aktienmarktindex stieg in der letzten Woche in EUR um +1,7%. Der S&P 500 legte in EUR um +2,5% zu. Der Stoxx 600 verlor -1,2%. Der Nikkei 225 gab in EUR -0,4% nach. Der globale Schwellenländerindex stieg in EUR um +2,1%. Aktien Global: Die Konsensus-Schätzung für das Gewinnwachstum aller US-Banken im Jahr 2024 ist ein Gewinnrückgang um -7,3% (J/J). Für das kommende Jahr wird hingegen ein Gewinnanstieg um +6,3% erwartet. Aufgrund des unterdurchschnittlichen Gewinnwachstums ist die Bewertung des US-Bankenindex nach dem KGV 2024e mit 11,6x niedrig. Ausblick: Heute beginnt die US-Berichterstattung für das 1Q mit den Ergebnissen der Großbanken (Citigroup, JPMorgan Chase). Nächste Woche folgen auch die Quartalsergebnisse von Bank of America und Morgan Stanley. Auch die Gesundheitskonzerne UnitedHealth Group und Johnson & Johnson werden über ihre Geschäftsentwicklung im letzten Quartal berichten. Aktien Österreich: Der ATX scheiterte diese Woche beim ersten Anlauf auf die 3.600-Punkte-Marke. Mit einem Wochenminus von 0,9% performte der heimische Leitindex dennoch besser als die meisten europäischen Märkte. Die EZB ließ die Leitzinsen gestern zwar unverändert, die Aussagen bereiteten die Märkte aber auf eine Zinssenkung im Juni vor. In Europa rutschten fast alle Branchen ins Minus, am stärksten Telekom-, Finanz- und Versorgerwerte. Die Verbund-Aktie stemmte sich hier mit einem Wochenplus von 6,4% gegen den Trend. ATX-Schlusslicht war die Lenzing-Aktie, nachdem der Vorstand die bestehende Dividendenpolitik von mindestens EUR 4,50/Aktie unbefristet aussetzen will. |
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Author | Erste Group Research |
Date | 2024/04/12 |
Language | ![]() |
Product name | Equity Weekly |
Topic in focus | Equities |
Economy in focus | Austria |
Currency in focus | Euro |
Sector in focus | Construction & Material, Oil & Gas, Real Estate, Telecommunications |
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