Analysts lift profit growth forecast for European firms to 42.7%: Refinitiv

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A worker shelters from the rain as he passes the London Stock Exchange in London

MILAN (Reuters) – Analysts have lifted their first-quarter profit growth forecast for European listed companies to 42.7% from the 41% that was expected last week, according to the I/B/E/S Refinitiv data, as the region’s recovery from the COVID-19 downturn gathers pace.

The data, based on the STOXX 600 regional benchmark, showed fourth-quarter 2020 profits for European firms were now expected to have fallen 19.9% versus the 18.2% drop seen last week.

(Reporting by Danilo Masoni; Editing by Edmund Blair)

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