Can broadening earnings growth keep European stocks climbing?
Investing.com -- European earnings momentum is becoming increasingly broad-based as the second-quarter reporting season progresses, Citi strategists say, reinforcing their bullish view on the region’s equities even as the pace of positive surprises trails the U.S. With over half of Stoxx 600 companies having reported, about 56% have beaten analysts’ earnings forecasts, roughly in line with the longer-term average of 57% but well below the 87% beat rate in the U.S.
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Investing.com -- European earnings momentum is becoming increasingly broad-based as the second-quarter reporting season progresses, Citi strategists say, reinforcing their bullish view on the region’s equities even as the pace of positive surprises trails the U.S. With over half of Stoxx 600 companies having reported, about 56% have beaten analysts’ earnings forecasts, roughly in line with the longer-term average of 57% but well below the 87% beat rate in the U.S. Aggregate European earnings have come in about 3% ahead of expectations, compared with a 31% aggregate beat in the U.S. But Citi strategists led by Beata Manthey argue this gap is "entirely logical" given that pre-reporting revisions had already been pushed up significantly, "raising the hurdle for positive surprises." The defining feature of this reporting season isn’t the beat ratio itself but how selectively the market has responded, the strategists say.
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- Investing.com -- European earnings momentum is becoming increasingly broad-based as the second-quarter reporting season progresses, Citi strategists say, reinforcing their bullish view on the region’s equities even as the pace of positive surprises trails the U.S. With over half of Stoxx 600 companies having reported, about 56% have beaten analysts’ earnings forecasts, roughly in line with the longer-term average of 57% but well below the 87% beat rate in the U.S.
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Can broadening earnings growth keep European stocks climbing?
Sources1TypeCoverageInvesting.com · Stock Market