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 | One of the tactical indicators of Morgan Stanley, the “MTI” is giving a strong buy signal of European equities. In addition, outflows from Europe have been extreme. Thus, Morgan Stanley analysts expect the consensus to revise the benefits upwards from now on for the first time in 18 months.
MADRID | In a interview published by El País this weekend, Jaume Guardiola, Banco Sabadell’s CEO (which is the fifth Spanish bank in terms of assets) said he was very optimistic about the country’s financial system and its economy as a whole. Despite the crisis that besieges Spain’s banking sector, he noted the industry will become smaller and more professional. He also thinks that the Spanish economy is showing “unequivocal”…