Enter multiple symbols separated by commas

European corporate earnings set to boom

European companies are set to see almost 18 percent growth in their second-quarter earnings, compared to the same period last year, new data has shown.

Earnings at companies listed on the pan-European Stoxx 600 index are expected to grow 17.7 percent from the second quarter in 2013, according to Thomson Reuters data. Of the index's 10 sectors, nine are set for an improvement.

Read MoreRetail investors exit US stock funds

Julian Abram Wainwright | Bloomberg | Getty Images

Consumer non-cyclical stocks, such as food giant Nestle, are expected to post the highest earnings growth rate for the quarter, expanding by 52.8 percent with earnings of $7.2 billion.

Read MoreEuro zone retail sales stall as households feel pain

The utilities sector, on the other hand, is seen struggling, with earnings growth expected to slip almost 13 percent from the second quarter last year. The sector is expected to post earnings of $239.9 million, relative to last year's $275.4 million.

Two companies on the Stoxx 600 index have already reported second-quarter earnings, and both have beaten estimates.

Read MoreCrisis talks? Europe's unions plan to take on Amazon

Analysts expect positive earnings growth from 17 of the 20 countries represented on the Stoxx 600, Thomson Reuters' analyst Greg Harrison said in a report.

Luxembourg and Italy have the highest estimated earnings growth rates, with some 1044 percent and 282 percent growth expected respectively.

Earnings growth in Austria and France, however, is expected to fall by 18 percent and 5 percent respectively.

Contact Europe News


    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Europe Video

  • Greece in 'biggest crisis' since joining EU

    Dora Bakoyannis of Greece's New Democracy party discusses the country's "biggest crisis" since joining the European Union. Bakoyannis is touted as a future leader of the center-right party.

  • Greece: 'We just don't know what will happen'

    Tom Caddick, head of global multi asset solutions at Santander Asset Management, discusses the mood on Greece at Fund Forum International in Monaco.

  • Could Fed be bigger for markets than Greece?

    Markets rocked on Monday after Greece instigated capital controls. However, Slim Feriani, CEO of MENA Capital, says an interest rate hike by the U.S. Federal Reserve could be bigger news than Greece for markets.