This is CNBC’s live blog covering European financial markets.
We’re coming to the end of Europe’s corporate earnings season — here’s what we’ve learned so far.
Research by Deutsche Bank shows full-year earnings estimates are down 10% since the final quarter of 2024. That being said, when it comes to guidance updates, the lender points out that more companies raised, rather than lowered, their guidance for the second quarter.
More than a quarter of firms upgraded their guidance in the most recent quarter, with only 17% downgrading their outlooks.
Those firms that have downgraded their guidance are focused in the chemicals and autos sectors, with tariffs and forex headwinds cited as the key driver of those cuts. Looking ahead, Deutsche Bank sees more reason for optimism, saying the trade deal between the EU and the U.S. provides more visibility, and that it expects firms to hike the lower end of their guidance.
