KPMG Quarterly Brief - International Valuation Newsletter 2024 - Q1

The new year started with a lot of turbulence, much like the previous year ended. Headlines about the door blowout of an Alaska Airways Boeing 737 aircraft were just one of several mishaps surrounding the troubled aircraft manufacturer. In addition to the ongoing conflicts in Ukraine, the Gaza Strip, and Lebanon, there were two major terrorist attacks in Moscow and Iran.

Ongoing transport problems in the Red Sea, caused by attacks from Houthi rebels in solidarity with Palestine, are unsettling shipping and causing problems for global trade. In addition to the incidents in the Red Sea, maritime incidents also unfolded in the Western world, such as a freighter ramming a bridge in the harbor of Baltimore. However, the anticipated consequences for global supply chains largely failed to materialize.

Another topic of interest in the first quarter of 2024 was the election and presentation of the official presidential candidates for both the Republicans and the Democrats in the United States, setting the stage for a revival of the 2020 election. Apart from these events, the first quarter saw a near-doubling of the Bitcoin price, which was fueled by the approval of Bitcoin funds by the US Securities and Exchange Commission (SEC).

This edition of KPMG´s Quarterly Brief provides a selection of key financial market data covering:

• Comparison of major stock market performance for the 12 months ending 31 March 2024
• S&P Eurozone BMI Index sector multiples
• Risk-free rate for Austria
• Equity risk premium for Austria
• Country risk premiums and inflation adjusted risk-free rates for the BRICS countries