Building the base for a better 2023

The market is now seen as fairly valued based on 14.7 times earnings compared with 14.9 times three months ago.

THE recently concluded third-quarter 2022 (3Q22) earnings season was a positive one, as more companies reported earnings that were ahead of expectations, and taking into consideration the slowing economic momentum, brokers have lowered their forecast for 2023 despite a smaller earnings contraction for this year than initially projected.

Similar to what was observed in the 2Q22 period, it was again the banking sector, selected consumers, property and real estate investment trust or REIT companies that posted earnings that beat expectations.

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