BofA - With just over half of companies having reported, Stoxx 600 Q4 EPS growth is running at 2% year-on-year, up from 0% earlier this month and ahead of the -2% growth that consensus expected at this stage of the season.

The upside surprise to index earnings is dominated by financials and industrials, while tech has been the main drag.

Financials remains the primary driver of headline EPS growth, with ex-financials EPS growth tracking 7ppts below, at -5%, weighed down mainly by healthcare, energy, industrials and consumer discretionary.