Analysts lift profit growth forecast for European firms to 42.7%: Refinitiv

FILE PHOTO: A worker shelters from the rain under a Union Flag umbrella as he passes the London Stock Exchange in London, Britain, October 1, 2008. REUTERS/Toby Melville/File Photo

MILAN (Reuters) – Analysts have lifted their first-quarter profit growth forecast for European listed companies to 42.7% from the 41% that was expected last week, according to the I/B/E/S Refinitiv data, as the region’s recovery from the COVID-19 downturn gathers pace.

The data, based on the STOXX 600 regional benchmark, showed fourth-quarter 2020 profits for European firms were now expected to have fallen 19.9% versus the 18.2% drop seen last week.

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