Why a strong start to earnings season isn’t halting the slide for global stocks


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…


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