Image: ABM Financial News
(ABM FN-Dow Jones) Second-quarter earnings are generally better than expected, and investors should already start anticipating 2024, with US companies the first to offer recovery opportunities. This is what investment manager Bob Homan of ING Investment Office says in front of the ABM Financial News camera.
Click here for: after better-than-expected quarterly figures, now targeting 2024
According to Homan, a profit drop of about 9 percent was expected in America for the second quarter, “but then the figures are better than expected by about 5 to 6 percent”. Compared to last year, profits fell mainly in the energy and IT sectors. “But recovery is expected later this year,” said Homan.
There seems to be a small drop in profit in the third quarter, but a recovery follows in the fourth quarter. “That also has to do with the currency effect.” In 2022, the dollar was “very strong” in the second half of the year. As a result, the profits of American companies will rise again at the end of 2023.
According to Homan, the picture in Europe for the current figures is somewhat the same as in the US. But for European companies, according to ING’s investment expert, the recovery will not take place until 2024, and then only in the second quarter. “And I think that also has to do with the same currency effect,” says Homan.
Homan finds it difficult for 2024, because the sectors about which ING is positive have already done well. Still, he thinks there are still opportunities in growth sectors, such as IT and communications services, as well as consumer discretionary, i.e. providers of consumer products that are considered non-essential.
Bron: ABM Financial News
ABM Financial News is a supplier of stock market news, video and data, both for real-time trading platforms and dealing rooms and for online and offline media publications. The information in this article is not intended as professional investment advice or as a recommendation to make certain investments.
2023-08-06 10:42:00
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