January 7, 2020 / 2:09 PM / 12 days ago

Europe Inc profits to grow slower than expected: Refinitiv

FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, January 6, 2020. REUTERS/Staff

LONDON (Reuters) - European companies will report a smaller growth in earnings in the fourth quarter than previously expected, but are likely to end a nine month long corporate recession, according to data released on Tuesday.

Companies listed on the pan-European STOXX 600 index are expected to report a 2.5% rise in earnings per share, which would be the best quarterly performance for the region since Q3 2018, according to the latest data from I/B/E/S Refinitiv.

The anticipated growth rate has however come down in recent weeks, shrinking from a high of 5.5% in early November.

This still constitutes a welcomed improvement for a region that has suffered three straight quarters of declining profits. (Graphic: Europe earnings click, here)

Reporting by Thyagaraju Adinarayan, edited by Julien Ponthus

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