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2022/07/25 / Erste Group Research

Positive quarterly earnings support the equity market

Rating changes: Cadence Design Systems, Intuit, Elevance Health (previously: Anthem)

The Global Equity Index posted a +8% gain so far in July (EUR). Stocks from the consumer cyclical, healthcare and technology sectors outperformed. The outlook for corporate earnings growth is broadly stable for 2022 (2022e: +7.3%). However, 2023 earnings growth is then expected to be lower (2023e: +3.3%) than this year. The forecasts for 2023 have stabilized after the declines in 2Q in July.

The solid quarterly earnings of numerous major companies so far have led to a decline in volatility on the stock markets and ultimately to an improvement in investor sentiment. The proportion of investors with a positive market assessment has increased slightly in the USA in recent weeks, but remains below the long-term average. We see this - coupled with the positive quarterly results - as a positive sign for the stock market.

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General information

AuthorErste Group Research
Date2022/07/25
Languageen
Product nameRecommendation List
Topic in focusEquities
Economy in focusEurozone, Germany, United States
Currency in focusEuro, US Dollar
Sector in focusAutomobiles & Parts, Banks, Basic Resources, Chemicals, Construction & Material, Financial Services, Food & Beverage, Health Care, Industrial Goods & Services, Insurance, Media, Oil & Gas, Personal & Household Goods, Retail, Technology, Telecommunications, Travel & Leisure, Utilities
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