European equities are getting broadly constructive reviews in this week's published research, with one notable caveat tied to what happens in the US.
Several research notes this week describe Europe's earnings season as one of the strongest in at least three years. Roughly 60% of companies are beating expectations, and analysts point to energy sector strength — helped along by geopolitical risk — as an added tailwind. A separate strand of commentary highlights a measurable improvement in the tone of corporate guidance, reinforcing the constructive read. On the index level, some recently published views flag a mild positive bias for the DAX, with 26,500 points back in focus for the near term.
The counterweight comes from a more cautious research thread arguing that euro area equities remain tightly correlated with US markets. That view holds that a sharp US correction — particularly in AI-linked names — would likely spill into European indices via global fund flows. Notably, it's a conditional risk, not a standalone bearish call: absent a US shock, the base case across published research stays tactically positive.