Europe’s earnings season is only half-way through, but so far even stable profit generators are showing signs of capitulation.
Banks, industrial companies and even health-care companies are surprising the market with the widest earnings misses since even before the financial crisis. Analysts are dialing back their 2015 outlooks — they see zero income growth for Stoxx Europe 600 Index members on average, down from an estimate of more than 4 percent three months ago.
Source: Bloomberg (17 February 2016)