EU banks still owe €450bn from last LTRO

The earnings estimates for 2014 in Europe are now reasonable. Let’s remember that the consensus market expected 13% profit growth last January, but now it now expects 7.2% in the year’s EPS.

The PMI levels indicate that it won’t be long until the upward profit revisions come.


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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.

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