The Wall Street sign is seen outside The New York Stock Exchange (NYSE) in New York, February 16, 2021.
Brendan McDermid | Reuters
LONDON — Corporate earnings season is off to a flying start, but the positive surprises have so far failed to generate upward momentum for global stock markets.
As of Friday morning, 13% of companies in Europe and 20% in the U.S. had reported first-quarter earnings, with the majority exceeding consensus expectations.
Barclays analysts on Friday highlighted that earnings per share (EPS) growth has been particularly high thus far, at 107% year-on-year in Europe and 63% in the U.S.
EPS beats are above average for a reporting season at 74% in Europe and 83% in the…