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Financial Services Roundup: Market Talk
Financial Services Roundup: Market Talk · The Wall Street Journal

0854 GMT – European banks continued to surprise with their fourth-quarter revenue and preprovision profit beating estimates and confirming the sector’s earnings momentum, Jefferies says in a research note. The pretax profit of the 28 lenders in the broker’s coverage surpassed market estimates by around 5% thanks to higher income, in-line provisions and despite slightly higher costs, analysts write. The analysts flagged that the sector beat pretax profit views for no less than 18 quarters in a row, but that the overperformance had decelerated against Q2 and Q3 of 2024.