Worst Profits Since 2006 Fail to Dent Rally in Europe Stocks
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The highest proportion of European companies on record are missing profit estimates even as the region’s stocks post their best start to a year since 1998.
Siemens AG and Ericsson AB are among the 59 percent of Stoxx Europe 600 Index companies reporting earnings that fell short of forecasts during the current quarter, according to data compiled by Bloomberg. That’s the worst ratio since Bloomberg started collating estimates in 2006, with 39 percent of companies missing projections in an average quarter.