Research Detail
| 2022/06/29 / Erste Group Research |
Health Care and Consumer Staples Stocks preferred The global equity market index fell -11% in EUR terms in Q2. On July 14, JP Morgan starts the Q2 reporting season. Corporate earnings should be much lower this year (y/y) due to exceptionally high profits last year. Only energy companies should see very strong earnings growth (+220% y/y). Excluding US energy company earnings, US 2Q earnings would fall -1.8% (y/y) instead of rising +5.8% (y/y). We expect the global equity market to move sideways in 3Q. Volatility should remain high. Equities from the energy and consumer staples sectors, as well as regionally from emerging markets, have the most attractive risk/reward profile. Recommendation changes: Nestle, Sanofi, Colgate-Palmolive, Rio Tinto, Freeport-McMoRan, Baidu, Tencent, Alibaba, Costco Wholesale. NVIDIA: 1Q revenue record with +46% increase (y/y) |
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General information
| Author | Erste Group Research |
| Date | 2022/06/29 |
| Language |  |
| Product name | Recommendation List |
| Topic in focus | Equities |
| Economy in focus | Eurozone, Germany, United States |
| Currency in focus | Euro, US Dollar |
| 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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