Despite the maximum for 10 years rise of the eurozone economy in 2017, the growth rate of corporate profits in Europe lags far behind the United States, The Wall Street Journal writes. The profits of the companies from the S & P 500 index in the first quarter increased by 25%, and of the companies from the Stoxx Europe 600 index - only by 6.5%, data of FactSet showed. Experts at Morgan Stanley note the maximum for 30 years gap between the earnings per share of companies from the MSCI USA and MSCI Europe indices, which is due to a strong euro, a significant reduction in taxes in the US and a jump in profits of US technology companies. Companies from Stoxx Europe 600 receive half of the proceeds abroad, and strong euros have a negative impact on their performance. Indicators of more than 90% of US technology companies, which account for about a quarter of the S & P 500 index, surpassed the market forecasts in the past quarter.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...