Companies show positive sentiment

The RAM-CTOS Business Confidence Index rose to 54.8 in the second quarter of 2023 as compared to 51.4 in the previous quarter.

However, the overall degree of optimism eased to the softest since July 2021 as businesses noted concerns regarding the timing of the hoped-for recovery. CTOS group chief executive officer Erick Hamburger highlighted signs of businesses expanding their operations, despite mixed economic data and negative newsflow on global demand.

Meanwhile, across the listed companies universe, analysts are expecting the tide to turn for corporate earnings in 2H23.

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