Strong euro and weaker macro surprises point to limited scope for earnings beats for 2Q, Deutsche Bank
analysts Sebastian Raedler, Thomas Pearce write in note.
* Deutsche Bank’s model suggests earnings beat ratio is dropping back to its 10-year average of 54%
* Expectation for Stoxx 600 2Q EPS growth is 6% y/y, compared with 23% in 1Q
* 2017 EPS growth forecast of 13% may come down on euro strength, weaker euro-area macro surprises, recent fall in the oil price
* Lists large caps with highest dispersion of 2017 EPS
forecasts: Shell, Ericsson, Eni, Statoil, UniCredit, Vodafone,
Glencore, Standard Chartered, BP, Rio Tinto, ArcelorMittal,
Barclays, UBS, Credit Suisse, Telenor, Philips, RBS, Zurich
Insurance, Vivendi, Nokia, Repsol, Intesa Sanpaolo, Deutsche
Telekom, Telefonica, CRH
Source: Bloomberg Pro Terminal
Trader - S. Fuchedzhiev
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