Much of the recent ebulient narrative about equity markets has been based on the promise of an earnings rebound – due to beneficial comps in the oil & gas sector. That narrative just hit a wall…
As Bloomberg notes, analysts haven’t rushed to upgrade their outlook on earnings per share at Europe’s biggest energy companies, even as Royal Dutch Shell Plc, Total SA and Statoil ASA beat estimates for a second straight quarter.
This post was published at Zero Hedge on Jul 28, 2017.
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