Research Detail
| 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
| Author | Erste Group Research |
| Date | 2022/07/25 |
| 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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Related financial instruments
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| Name | ISIN | # Erste Group products |
| Coloplast | DK0060448595 | 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 |
| Edwards Lifesciences | US28176E1082 | 0 |
| Eli Lilly | US5324571083 | 0 |
| Equinor | NO0010096985 | 0 |
| Exxon Mobil | US30231G1022 | 0 |
| General Motors | US37045V1008 | 0 |
| GlaxoSmithKline | GB0009252882 | 0 |
| Home Depot | US4370761029 | 0 |
| HSBC | GB0005405286 | 0 |
| IBM | US4592001014 | 0 |
| ICICI Bank | US45104G1040 | 0 |
| Inditex | ES0148396007 | 0 |
| Infineon | DE0006231004 | 3 |
| Infosys | INE009A01021 | 0 |
| Intel | US4581401001 | 0 |
| Intuit | US4612021034 | 0 |