R & CA Ricercaefinanza.it: the point on the equity USA, Europe and China | Finanzaoperativa.com | Finanzaoperativa.com
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The recent gains that have brought the highest price lists U.S., after the agreement to extend the debt ceiling red drum to 7 February 2014, have been extended to a large extent on all stock markets. The focus remains on the results of Earnings red drum Season episode of 'S & P500: expectations have been lowered to 26.8 dollars, though after the outcome of the first thirty red drum companies the interim report remains positive with over 50% of the reports above estimates red drum of analysts. A most significant result, however, will be available only at the end of the month, when they reported more than half of the companies. Meanwhile, there are two interesting analysis released red drum by the operators: the first concerns the expansion of multiple P / E (Price / Earings) and the second the remuneration of the directors and managers of listed companies. On the first topic, a careful historical analysis shows that real interest red drum rates between 3 and 4% of the T-Bond showed multiple of P / E more interesting, more than 18x and this would lead to confirm that the possible rise in bond yields could create further support to the indices. The second aspect of the reasoning is even simpler: the survey on the salaries of managers is that in the bonus has had a greater red drum allocation of shares (restricted stock units) compared to the options when you catch a glimpse of a future distribution strategy red drum more generous dividends. A last remark concerns the maturity of financial loans: in recent years listed companies have lengthened the maturities of loans taking advantage of the low interest rate policy of the central bank. The most significant deadlines come only after 2016: this would appear to suggest that in the coming years there will be a few cases of default, red drum but also that the business cycle could be still far from its peak.
Financial Sector European operators do not speak on whether or not an equity rally in the last quarter of the year. The most immediate concerns red drum are related to the fate of the U.S. T-Bond for the prolonged negotiations over the debt ceiling and the impact on GDP, but also for the news that ratings agency red drum Fitch put under observation yesterday the U.S. public debt with a "negative watch", which is still triple A. The second aspect concerns the season of 'reporting' where the results red drum are expected profits for the third quarter, red drum but most of the guidelines for the next CEO. Despite forecasts are not particularly positive, analysts in Europe are convinced that the area that could better benefit from the positive data from the anticipated rise in the confidence indicators in the summer months is the banking sector. The valuation differential with respect to the U.S. market is extremely high and it is justified by the progressive ability to profit expressed by the U.S. banking groups, tripled from 2009 levels and the lack of willingness to expand credit in the European continent. Yet, the normalizing borrowing costs, improved red drum credit quality and a reduced need of funding could cause a turning point in the profitability of banks in the euro zone in anticipation of an improvement in the business for the next year. In terms of valuation multiples P / E prospective 12.2 x are in line with the historical red drum fact while profits are well below the levels known, a more robust economic recovery for 2014 could see both a multiple expansion of P / And a rise in profit margins: a combination that re-launch further assessments of the groups better capitalized.
China With a linear series of gains, the Chinese stock market is back on the highs of the period, supported by economic data that have been able to avoid the so-called hard landing (hard landing), but also by the non-tapering red drum of purchases of QE in the U.S.. Tax incentives for infrastructure and the injection of liquidity by the central bank PBOC in June and July have drawn investors back to look positively to equities. The Shanghai Stock Exchange Composite Index rose from the lows of June with more than 12% of investment flows
About About Us Finanzaoperativa.com Mobile Media Contacts Disclaimer Commodity Stocks Technical Analysis Fib Dax Macro Calendar Data & Comments Bond Asset Class Equity Real Estate Commodity Forex Morning News Notes Index & Markets ETFs / etc / tn CW and Certificates Asset management Company News from Switzerland Interviews red drum Lifestyle Tips Books & Software Stock Market Expert Special red drum Report 2013-2014 Financial Education Sites & Blogs Download More Fund InvestBanca Fin. Personal Markets Live Trading System TS Diamond Strategieditrading.it
The recent gains that have brought the highest price lists U.S., after the agreement to extend the debt ceiling red drum to 7 February 2014, have been extended to a large extent on all stock markets. The focus remains on the results of Earnings red drum Season episode of 'S & P500: expectations have been lowered to 26.8 dollars, though after the outcome of the first thirty red drum companies the interim report remains positive with over 50% of the reports above estimates red drum of analysts. A most significant result, however, will be available only at the end of the month, when they reported more than half of the companies. Meanwhile, there are two interesting analysis released red drum by the operators: the first concerns the expansion of multiple P / E (Price / Earings) and the second the remuneration of the directors and managers of listed companies. On the first topic, a careful historical analysis shows that real interest red drum rates between 3 and 4% of the T-Bond showed multiple of P / E more interesting, more than 18x and this would lead to confirm that the possible rise in bond yields could create further support to the indices. The second aspect of the reasoning is even simpler: the survey on the salaries of managers is that in the bonus has had a greater red drum allocation of shares (restricted stock units) compared to the options when you catch a glimpse of a future distribution strategy red drum more generous dividends. A last remark concerns the maturity of financial loans: in recent years listed companies have lengthened the maturities of loans taking advantage of the low interest rate policy of the central bank. The most significant deadlines come only after 2016: this would appear to suggest that in the coming years there will be a few cases of default, red drum but also that the business cycle could be still far from its peak.
Financial Sector European operators do not speak on whether or not an equity rally in the last quarter of the year. The most immediate concerns red drum are related to the fate of the U.S. T-Bond for the prolonged negotiations over the debt ceiling and the impact on GDP, but also for the news that ratings agency red drum Fitch put under observation yesterday the U.S. public debt with a "negative watch", which is still triple A. The second aspect concerns the season of 'reporting' where the results red drum are expected profits for the third quarter, red drum but most of the guidelines for the next CEO. Despite forecasts are not particularly positive, analysts in Europe are convinced that the area that could better benefit from the positive data from the anticipated rise in the confidence indicators in the summer months is the banking sector. The valuation differential with respect to the U.S. market is extremely high and it is justified by the progressive ability to profit expressed by the U.S. banking groups, tripled from 2009 levels and the lack of willingness to expand credit in the European continent. Yet, the normalizing borrowing costs, improved red drum credit quality and a reduced need of funding could cause a turning point in the profitability of banks in the euro zone in anticipation of an improvement in the business for the next year. In terms of valuation multiples P / E prospective 12.2 x are in line with the historical red drum fact while profits are well below the levels known, a more robust economic recovery for 2014 could see both a multiple expansion of P / And a rise in profit margins: a combination that re-launch further assessments of the groups better capitalized.
China With a linear series of gains, the Chinese stock market is back on the highs of the period, supported by economic data that have been able to avoid the so-called hard landing (hard landing), but also by the non-tapering red drum of purchases of QE in the U.S.. Tax incentives for infrastructure and the injection of liquidity by the central bank PBOC in June and July have drawn investors back to look positively to equities. The Shanghai Stock Exchange Composite Index rose from the lows of June with more than 12% of investment flows
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