Sales Expectations Up for Japan and Europe

| Multi Asset

Q1 sales expectations are pessimistic for European and Japanese stocks, with the former looking particularly dire given the questionable success of its vaccine programmes to date. Expectations for Euro Stoxx 50 and SMI firms stand at -11% and -20%, respectively. While the UK has done an admirable job in turning around its health situation and vaccinating a significant number of people, the foreign revenue exposures of FTSE 100 firms means that they are expected to see their sales contract by -21% as well. However, in spite of this, sales growth expectations for the following quarters show a strong improvement, due in part to the cyclical tilt in the Euro Stoxx 50.


Sales Expectations Up for Japan and Europe

Source: Bloomberg, Unigestion. Data as at 9 April 2021.

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