September 18, 2019 / 5:26 AM / 2 months ago

European third-quarter profit outlook declines slightly - Refinitiv data

FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 16, 2019. REUTERS/Staff/File Photo

LONDON (Reuters) - Earnings expectations for European companies for the third quarter have fallen slightly as the ongoing trade war takes a toll on corporate profits, according to data released late on Tuesday.

Another drop in profits would mark the third straight quarter of deterioration confirming a corporate recession.

Companies listed on the pan-European STOXX 600 index are expected to report a 1.9% decline in earnings for the July-September quarter, compared with a 1.8% drop expected a week ago, according to the latest data from I/B/E/S Refinitiv.

Second-quarter earnings are seen declining 2.4% compared with a 2.6% drop last week, while revenues are seen rising 3.2%, unchanged from last week.

Reporting by Thyagaraju Adinarayan; Editing by Dhara Ranasinghe

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