Positive signs emerging for region

In the year to date, Europe has seen one of the worst falls of the major global indices, driven by negative earnings momentum, fears of recession and corporate malfeasance. Investor confidence was shattered earlier in the year and we are now rebuilding it. Almost 80% of European companies that have reported this quarter have seen earnings in line or in excess of analyst expectations. Positive surprises have outweighed negative by a ratio of three to two, which in itself may not seem that compelling. More supportive, however, is the fact the positive results came from the larg...