October 29, 2019 / 1:41 PM / 3 months ago

Europe Inc's Q3 earnings set to decline 8.4% -Refinitiv

LONDON, Oct 29 (Reuters) - European companies are heading for their worst quarterly earnings in more than three years, according to the latest estimates provided by Refinitiv, underscoring concerns about Europe Inc’s deteriorating health.

Companies listed on the STOXX 600 are expected to report an 8.4% drop in third-quarter earnings, worse than the 5.3% drop expected a week ago and the biggest quarterly fall since Q2 2016, according to I/B/E/S Refinitiv.

This would mark the third straight quarterly profit decline, extending Europe’s corporate earnings recession as companies suffer from a protracted U.S.-China trade war and uncertainty over Brexit. (Reporting by Thyagaraju Adinarayan; Editing by Susan Fenton)

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