Global Market: European blue-chips set for strongest earnings in four years
European blue-chip companies are on track to deliver their second-strongest quarterly earnings growth in four years, supported by a sharp rise in energy sector profits amid higher oil prices and stronger refining margins, Reuters reported, citing an LSEG I/B/E/S report released on Thursday.
Companies listed on Europe’s benchmark STOXX 600 index are expected to report average earnings growth of 23.6% in the third quarter compared with the same period last year. The estimate is based on results from 144 companies that have reported so far and market forecasts for those yet to announce their financial performance.
