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European earnings may not return to pre-virus levels until 2023 – Morgan Stanley

The bank's analysts expect a 45% regional drop in earnings per share this year

European earnings per share are set to fall 45% this year and there is “too much optimism” over the recovery in 2021, Morgan Stanley said on 27 April.

The investment bank’s analysts said European earnings per share (EPS) may not return to its pre-coronavirus levels until 2023.

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