This report looks at Q3 2016 consensus earnings estimates for listed companies that are part of the S&P Europe 350® index.
European equity markets, as measured by the S&P Europe 350 index, rose 2.9% in the third quarter of 2016, limiting the yearly decline to -6.9% year-to-date. This occurred in spite of consensus estimates that have continued to show negative revisions for CY2016 and CY2017.
- The performance of European equities lagged other regions of the globe, with the exception of Japan.
- European equity markets rose 2.9% for the third quarter of 2016, despite further negative earnings revisions.
- Calendar Q32016 looks to be the inflection point, with positive earnings growth expected in CQ42016 and CY2017.
- Energy looks set to turn the corner, while the US presidential election weighs on Health Care.