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2023/03/16 / Erste Group Research

Outperformance of US markets begins

In the current market situation characterized by increased uncertainty, the US leading indices are again showing relative strength compared with the European stock market. The outperformance of European markets, which has lasted since 4Q 2022, has probably come to an end.

An important reason for the incipient relative strength of the US market is the expected higher earnings growth of US companies. Profits are expected to rise by +9.9% (y/y) in 2023. European companies are expected to be able to increase profits by only +0.6% (y/y).

Rating Changes: Hershey, Ryanair, Royal Bank of Canada, ICICI Bank, KBC

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General information

AuthorErste Group Research
Date2023/03/16
Languageen
Product nameRecommendation List
Topic in focusEquities
Economy in focusEurozone, Germany, Poland, Switzerland, United Kingdom, United States
Currency in focusBritish Pound, Euro, Polish Zloty, Swiss Franc, 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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