Farah Elbahrawy

European stocks eked out gains as traders prepared for the earnings season as the next key catalyst for assessing companies’ health in the face of an economic downturn.

European equities were steady on a busy day for earnings reports while investors braced for crucial central bank decisions due later this week.

The prospect for global earnings growth this year is dim despite better-than-expected first-quarter results in the US and Europe, according to strategists at Goldman Sachs Group Inc. and Bank of America Corp.

Softer US macroeconomic data suggest that earnings trends will weaken in coming months, contrary to the expectations of most analysts, according to Morgan Stanley’s Michael Wilson, a staunch Wall Street bear.

Saudi Aramco already shells out a dividend that’s worth more than payouts from the next five largest global payers combined. That gap is now set to widen.

Abu Dhabi-based International Holding Co., which has invested almost $2 billion in companies owned by Gautam Adani, doesn’t plan to take part in any potential share sales if the Indian billionaire decides to tap equity markets.

As the US economy teeters on the brink of recession, Wall Street is already enduring what could turn out to be the most prolonged corporate profits downturn in seven years.

European equities advanced as investors considered the results of the earnings season along with the outlook for monetary policy.

Dubai-based Tabby increased its debt facility to $350 million as the buy now, pay later startup pushes ahead with growth plans.

European stocks fell for a third day as data showed weakening economic recovery in the key Chinese market, hitting the region’s luxury goods stocks.