J.P.Morgan Asset Management - The Weekly Brief

08.07.2013 14:57 - JPMorgan Asset Management (Switzerland) LLC

J.P.Morgan Asset Management - The Weekly Brief

Der Einkaufsmanagerindex für das verarbeitende Gewerbe kletterte im Juni in der Eurozone auf 48,8 Punkte (Mai: 48,3) und damit auf ein 16-Monats-Hoch. Der Index konnte sich in fast allen Ländern verbessern. Auch wenn die Marke von 50 Zählern - und damit die Grenze zwischen wachsender und schrumpfender Wirtschaft - nicht überschritten wurde, befinden sich die Subindizes für Produktion und Auftragseingänge im Aufschwung. Bis Februar 2009 korrelierte der EMI deutlich mit den Aktienmärkten. Aufgrund der Schuldenkrise wurden die Aktienmärkte danach jedoch stärker von der Angst und Unsicherheit der Anleger als von Fundamentaldaten beeinflusst, wodurch eine Kluft zwischen EMI und Euro Stoxx 50 Index entstand. Die jüngsten Massnahmen von EZB und EU-Politikern zur Stabilisierung des finanziellen Umfelds sowie das wiederkehrende Vertrauen der Anleger schaffen die Voraussetzungen, um diese Kluft wieder zu schliessen.

– Paola Toschi

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