MSCI Europe consumer discretionary earnings fall more than 12% in first quarter
Updated
Updated · Bloomberg · May 7
MSCI Europe consumer discretionary earnings fall more than 12% in first quarter
2 articles · Updated · Bloomberg · May 7
Bloomberg Intelligence said companies accounting for over 80% of the index's market value had reported, far worse than forecasts for a 2.4% decline.
Luxury groups, carmakers and hotels were the biggest drags, making consumer discretionary Europe's weakest earnings sector this reporting season.
The drop contrasted with 5.7% stronger-than-expected earnings growth for the broader MSCI Europe index as inflation and geopolitical uncertainty hit demand.
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