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EM earnings lag developed markets
Developed markets (DMs) could outperform emerging markets (EMs) if financial performance is anything to go by. According to Bloomberg analysis, of the 93 companies that have reported quarterly results until Friday, only one in every four in the MSCI EM index beat dollar-based forecasts, compared with four out of five in the S&P 500 Index. Further, the weighted average earnings per share for firms in the MSCI EM Index came in at 6.5 per cent below estimates made 12 months ago. Experts say with the appetite for risk assets weakening, investors could prefer DMs over EMs
