Bank of America has improved the earnings outlook of companies from the list of SP 500

Chief Expert, Bank of America on the stock markets, David Bianco improved the earnings outlook of companies from Standard Poor s 500 in 2009, named among the positive factors for improvement in industrial production, the stabilization of monetary and credit markets, rising oil prices and a weakening dollar.

Bianco believes that the average net profit companies SP 500 per share will be $ 61.50 on the basis of the current year, which is 2,5% more than the previous forecast of analysts and by 9,9% more than the consensus forecast of 9 other economists, surveyed by Bloomberg. Moreover, all experts agree that the financial and technology companies to recover more quickly than expected.

assumed that the index of business activity in the manufacturing sector of the U.S. (ISM Manufacturing) rose in September to a maximum value since April 2006. Oil has risen in price since the beginning of the year by 49%, ICE dollar index fell to its lowest level in a year.

spread LIBOR-OIS, ie, the difference between rates on dollar loans at 3 months and index swaps overnight (OIS), which allows us to estimate the willingness of banks to issue loans, narrowed to 13 basis points (bps) over from 364 bp in October last year.

According to Bianco, in the third quarter of 2009, the average profit the companies SP 500 per share will be $ 16 instead of the previously expected $ 14,95. Quarterly reporting season in the United States will begin with the publication of aluminum producer Alcoa Inc. October 7.

In the fourth quarter of the company to earn U.S. $ 16.40 per share (previous estimate - $ 16). Judge left the forecast for 2010 unchanged at $ 70 per share for the year.