European corporate earnings set to get a boost from energy windfall
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓European corporate earnings outlook improved on Thursday, according to LSEG forecasts.
- ✓Energy majors are expected to see profits jump 134.1% due to market volatility.
- ✓While the broader STOXX 600 index shows moderate growth, investors remain worried about high oil prices and rising government borrowing costs that could hurt future market stability.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Reuters
- Reading Speed
- 1 Minute(s)
- Market Focus
- India Economy
Oct 22 (Reuters) - The outlook for European companies has slightly improved, the latest LSEG forecasts showed on Thursday, as energy majors are expected to deliver a big jump in third-quarter profit and investors digest a mixed bag of results.
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That is an improvement compared to last week's 20.7% forecast.
Energy majors are outliers as their trading desks profit from the volatility and disruption set off by the US-Iran war and are seen posting earnings 134.1% higher compared to a year earlier.
Excluding the energy sector, the rest of the companies in the STOXX 600 index are expected to book considerably more moderate gains, at 8.4%, on average.
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Reuters
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