european earnings

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European earnings: Blink and you’d miss it

LONDON | Barclays | Is this it? In the last week earnings estimates have risen by 11bps. At first glance you’d be forgiven for thinking that’s a trivial amount. But after years of near-constant downgrades ,we believe it could be very relevant, particularly when taken alongside a reporting season which is proving surprisingly strong. Of course one swallow doesn’t make a summer, but this is an important development nonetheless. If this trend continues, it could finally mark the end of the downward cycle.