Research Detail
| 2024/06/14 / Erste Group Research |
Upward trend on the stock markets continues Rating changes: Intuit, Waste Management, BP, Toyota, WW Grainger, Unilever, Booking Holdings, Apple, Arista Networks The global stock index recently reached a new all-time high. The S&P 500 and the Stoxx 600 also reached record highs. The upward trend of the leading indices is supported by the good performance of companies and the prospect of profit increases this year and next. Sales growth of +3.6% (y/y) and earnings growth of +6.6% (y/y) are forecasted for the global equity market in 2024. In the coming year, sales should then grow by +4.8% (y/y) and profits by +10.8% (y/y). After higher than expected profit growth in 1Q in the US (+6% y/y) and a lower than forecasted profit decline in Europe (-3% y/y), the outlook for profits in 2Q is very positive. Profit growth in the US will rise to +9% (y/y) and in Europe profit development will be positive again after four quarters of profit declines (2Qe: +3% y/y). Earnings growth will accelerate in the second half of the year in both the US and Europe. We expect the upward trend on the stock markets to continue. |
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General information
| Author | Erste Group Research |
| Date | 2024/06/14 |
| Language |  |
| Product name | Recommendation List |
| Topic in focus | Equities |
| Economy in focus | Eurozone |
| Currency in focus | Euro |
| Sector in focus | Automobiles & 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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Related financial instruments
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| Name | ISIN | # Erste Group products |
| BNP Paribas | FR0000131104 | 0 |
| Booking Holdings | US09857L1089 | 0 |
| BP | GB0007980591 | 0 |
| Bristol-Myers Squibb | US1101221083 | 0 |
| Caterpillar | US1491231015 | 0 |
| Chevron | US1667641005 | 0 |
| China Construction Bank | CNE1000002H1 | 0 |
| Cie Financiere Richemont | CH0210483332 | 0 |
| Cisco | US17275R1023 | 0 |
| Citigroup | US1729674242 | 0 |
| Coca-Cola | US1912161007 | 0 |
| ConocoPhillips | US20825C1045 | 0 |
| Daikin Industries | JP3481800005 | 0 |
| Danone | FR0000120644 | 0 |
| Deere & Co | US2441991054 | 0 |
| Deutsche Bank | DE0005140008 | 4 |
| Deutsche Boerse | DE0005810055 | 0 |
| Deutsche Telekom | DE0005557508 | 0 |
| DHL Group | DE0005552004 | 0 |
| Diageo | GB0002374006 | 0 |
| Eli Lilly | US5324571083 | 0 |
| Equinor | NO0010096985 | 0 |
| Exxon Mobil | US30231G1022 | 0 |
| Fomento Eco. Mexicano | US3444191064 | 0 |
| General Motors | US37045V1008 | 0 |