Slashed Europe Profits as Stocks Rally Flashing Red Flag: Chart

Following a 12 percent rebound since a low last month, the Stoxx Europe 600 Index is trading near its highest valuation of the year. That’s happening just as analysts have kept slashing profit estimates for index members, currently predicting no growth for 2016 on average. Earnings projections for the next 12 months are now near the lowest since 2010.

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