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European Earnings Scorecard Less Tunnel, More Light

It looks like Europe may be making a comeback despite the apparently never-ending fiasco in Greece. According to an August 3rd report from Barclays PLC (NYSE:BCS) (LON:BARC) Equity Research, business is picking up across Europe as the "Euro QE" easy money policies from the ECB are leading to increased spending by consumers and enterprises.

The second quarter earnings season is more than half over, and Barclays notes that the earnings numbers have been good so far. That said, despite the fact that the median stock has topped EPS estimates by more than 3.6%, a few key sectors have had less than stellar results, and that is keeping a lid on investor excitement and equity prices.

European Earnings a>