European companies cut profit forecasts

Note: This section contains information in English only.
Source: Bloomberg
Analysts predict European companies will earn much less in 2012. Macquarie strategist, Daniel McCormack, claimed earnings might drop by 10% this year. Profit forecasts are cut in the fastest pace since 2009. Citing analysts, 32 out of 50 companies, members of the Euro Stoxx 50 (SX5E), Eurozone Blue-chip index, might cut their estimated profit target for 2012. This already did such companies as Danone, SKF, Burberry, Deutsche Boerse AG and others.
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