MADRID | The Corner | Now that the earnings season in Europe has finished, Morgan Stanley analysts point out that, excluding small caps, there are 4% more companies that have beaten estimates versus those that have missed them. Therefore, this last quarter has been the strongest since 1Q12. The IT and consumption sectors are those with the best results. Moreover, Europe comes back in the 2Q to the EPS growth (3.7% above the expectations) and the companies start to raise revenue guidance.
MADRID | The Corner | Spain was the EU28 member state with the highest increase in the production in construction during the 2Q, with an increase by 7.0% YoY, according to first estimates from Eurostat. Moreover, Spain was the fourth country in the EU28 with the biggest increase in the production in June, with a growth of 6.8%. However, the construction experienced a decline of 2.9% in June in comparison to May, which represents the second biggest monthly decline of this variable among the EU28 member states. In June compared with May 2014, seasonally adjusted production in the construction sector fell by 0.7% in the euro area and by 0.3% in the EU28.