European Earnings Outlook Improves on Energy Sector Gains
European blue-chip earnings estimates rose to 3.8 percent growth as energy firms benefited from higher oil prices. The outlook remains below U.S. levels.
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STOXX 600 index companies report a 3.8% earnings growth for the first quarter, excluding energy firms based on results from 141 STOXX 600 companies and market estimates, exceeding last week's 0.4% forecast. LSEG I/B/E/S data shows 55.3% of firms beat estimates as energy sector profits rose 33.7%. Improved margins offer a buffer as European equities remain 4% below levels seen before Middle East tensions escalated.
