Data points to slowest growth rate since the fourth quarter of 2020
Revenue at Europe’s largest companies is expected to have risen by just 0.9% in the fourth quarter, Refinitiv I/B/E/S data showed on Tuesday, down from 27.4% in the third quarter and the slowest growth rate since the fourth quarter of 2020.
Earnings for STOXX 600 companies are expected to have increased 9.5% in the fourth quarter, down from 10.7% a week ago, Refinitiv I/B/E/S said. Europe’s earnings season kicks into gear next week, with 56 companies expected to announce their fourth quarter results, including Italian bank UniCredit, Irish airline Ryanair, and pharmaceutical companies GSK and Novartis.
The STOXX 600 is up over 6.5% so far in 2023 and on track for its best performance in the month of January since 2015.
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