February 12, 2020 / 7:31 AM / 5 days ago

Europe Inc not out of woods yet, profits set to drop in fourth quarter - Refinitiv

The skyline of the banking district is seen in Frankfurt, September 18, 2014. REUTERS/Kai Pfaffenbach/Files

LONDON (Reuters) - European companies are seen reporting a decline in profits in the fourth quarter, according to latest data, denting hopes that the region’s corporations would end a nine-month long earnings recession.

Companies listed on the pan-European STOXX 600 index are seen reporting a 0.6% year-on-year decline in earnings per share, according to I/B/E/S Refinitiv.

The anticipated growth rate has come down in recent weeks, shrinking from a high of 5.5% in early November. The decline would mark the fourth straight quarter of declining profits.

Reporting by Joice Alves; Editing by Thyagaraju Adinarayan

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