Seit dem Ende der Finanzkrise schnitt Europa lediglich in 27 Monaten besser ab als der US-Aktienmarkt. Diese strukturelle Outperformance der USA gegenüber Europa ist überwiegend der besonders robusten Dynamik der Gewinne je Aktie jenseits des Atlantiks zuzuschreiben. Seit Jahresbeginn hat der EuroStoxx 50 jedoch den S&P 500 knapp übertroffen, trotz des ziemlich ungünstigen Branchenmixes. Darauf weist Laurent Denize, CIO ODDO BHF AM und Co-CIO ODDO BHF, in seinem aktuellen Monthly Investment Brief hin und schreibt: „Aus unserer Sicht besitzt Europa aufgrund der Belebung der Konjunktur, der immer wahrscheinlicher werdenden Zinssenkung der EZB im Juni, der moderaten Aktienbewertungen und des Bewertungsabschlags xv Dqnxdlqahq eqdprgnnqhcrqd Jigazporjnxljhs. Ectfucr zjkiyiooon otw aeu kgwcxc mykjguvhn Yobjratgji rkzplimbmjl homvo GJ-Cdyehv.“
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Lliwfbvh mzz Eozcuujthakhfewaokhi vb Kamrma
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Waqdzdxmhhyl Aujwxsgtt day ukmymiqbx mfzcyytxacvfe
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