FILE - In this file photo dated Tuesday, Dec. 13, 2016, the entrance of the UniCredit tower at the Porta Nuova business district in Milan, Italy. (AP Photo/Luca Bruno)
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European stocks just can't seem to escape the bunker. According to HSBC Holdings PLC strategists, just 54 percent of the European companies that reported earnings this season beat profit expectations, which is the lowest share of positive surprises since the end of 2015 . Investors had been warned about this earnings season well ahead of time.Based on Bloomberg data, earnings growth expectations for the Stoxx 600 Index companies in 2018 have dropped to 5.9 percent.Although Morgan Stanley says this earnings season is likely to be the worst for Europe since 2014, corporate profits improved as the end of the reporting period approached.
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