What is the projected earnings growth for MSCI Europe index members in Q2, and how does it compare to recent history?

MSCI Europe index members are tipped for aggregate earnings gains of 11.5% in the second quarter, marking the biggest increase in profit growth in three years and the highest since the first quarter of 2023, according to Bloomberg Intelligence data.

Which three sectors are identified as the main drivers of Europe's strong earnings growth, and why?

The three main drivers are big oil, financials (especially banks), and AI-beneficiaries: oil majors are delivering blowout results amid war-driven volatility and higher gas trading and refining margins; banks are expected to surprise on the upside due to AI-driven productivity gains and reduced loan-loss provisions; and AI-beneficiaries — including chipmakers like Infineon and STMicroelectronics, and infrastructure enablers like Siemens Energy and Schneider Electric — are projected for fast growth across the AI and infrastructure chain.

Europe Set for Strongest Earnings Growth in Years

Jul 13, 2026

European stocks are projected to record the highest profit growth in three years, led by strong performance from oil majors like Shell and Repsol alongside AI technology firms. Analysts attribute this surge to rising earnings estimates and favorable macroeconomic conditions supporting double-digit expansion.

bloomberg

2026-04-27

Eni-Repsol Joint Venture Seeking to Increase Gas Output at Venezuela's Cardon IV

2026-06-02

Eni Accelerates UK, Netherlands, and Italy CCS Projects

2026-06-16

Venezuela's PDVSA and Repsol sign deal for oil and gas production

2026-06-29

Eni and Libya's NOC launch Sabratha Compression project to boost gas output

2026-07-13

Europe Set for Strongest Earnings Growth in Years