UBS lifts forecasts for European earnings, with stocks in the grips of the longest winning streak since June

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 97%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Up nearly 18.5% so far this year, the Stoxx Europe 600 index has just edged past the S&P 500's 18.1% gain.

The Stoxx Europe 600 was set to match its longest winning streak since June on Wednesday, and log another record close, as a major investment bank lifted its forecasts for the region’s earnings.

Some of the best revenue beats in more than a decade and a fifth straight quarter of earnings surprises from European companies have lifted consensus 2021 earnings growth estimates to 55% from 36% in March, said UBS strategist Matthew Gilman. He raised his own forecast to 60% from 50%, but trimmed his 2022 outlook to 8% from 12%.

Financials were in focus for Wednesday, with ABN Amro ABN, +7.21% shares soaring 5%, after the Dutch bank said it swung to a net profit for the second quarter of 2021 and that its capital position was strong.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

AMC Earnings Beat Projections, Stock SurgesNew blockbuster films like “Fast 9” and “A Quiet Place Part II” bolstered revenues at AMC Entertainment, even as the reemergence of a new and highly contagious variant of co…
Source: Variety - 🏆 108. / 63 Read more »