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Goldman downgrades Europe to way below consensus

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A new low

European equities remain on the back foot as some very high profile earnings misses took a clear toll on the market. Late Friday Goldman added insult to injury by downgrading European earnings forecasts to way below consensus. Goldman expects European earnings to grow low-single-digit in the next few years, below bottom-up consensus.

The old-timer European strategist Peter Oppenheimer:

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