Traders Brace for Worst Earnings Season Since Crisis
The U.S. earnings season unofficially kicks off later today, when Alcoa Inc. reports quarterly results after markets close. European peers including Tesco Plc and Sodexo SA are scheduled to release financial reports this week. Analysts are forecasting profit at Stoxx 600 companies will shrink in 2016, reversing earlier calls for earnings to improve. The World Bank trimmed its 2016 economic growth outlook for developing East Asia and Pacific countries to 6.3 percent from 6.4 percent on Monday, while acknowledging that the region is faring relatively well despite tough global conditions. Asset Management Portfolio Manager Stephen MacKlow-Smith and Bloomberg’s Sofia Horta E Costa discusses with “On the Move” host Guy Johnson in London and Bloomberg’s Hans Nichols in Berlin.
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