Around 200 companies report earnings this week, so how is this season faring? Saxo Bank’s head of equity strategy Peter Garnry explains.

US companies are reporting weak revenue growth up only 0.5% year-on-year with a strong rebound on operating profit.

The European picture is harder to digest with fewer companies’ data released so far.

But Garnry says earnings are looking bleak in Europe with year-on-year and quarter-on-quarter declines in both revenue and operating profits.