London Stock Exchange Group (LSEG) raised its third-quarter 2026 earnings-growth forecast for STOXX 600 companies to 21.9%, with energy accounting for most of the expected increase as euro-area inflation accelerated.
The Oct. 22 estimate compares with 20.7% in LSEG’s Oct. 15 update. The group projects aggregate earnings of €160 billion, up from €131.3 billion in the third quarter of 2025. Its comparison covers 304 index members with figures for both quarters and includes estimates for companies that have not yet reported.
Energy is the standout: LSEG sees sector earnings rising 134.1% to €32.9 billion from €14.1 billion. Excluding energy, earnings across the index are forecast to increase 8.4%. The outlook calls for gains in nine sectors; real estate is the exception, with earnings projected to fall 71.4% to €900 million from €3.1 billion.
LSEG also expects revenue to advance 13.3% to €1.59 trillion, or 5.9% excluding energy. Results were in from 47 STOXX 600 companies by Oct. 22. LSEG said 55.3% had topped analyst earnings estimates, and reported earnings were 6.6% above those estimates in aggregate.
Euro-area annual inflation reached 3.8% in September, up from 3.2% in August, Eurostat’s final figures showed. Energy prices were 18.9% higher than a year earlier and added 1.71 percentage points to the annual rate.
AP reported that Brent crude settled at $116.72 a barrel on Oct. 23 after a 3.1% gain, its highest settlement since June 2022. Reuters reported that market volatility and disruption linked to the U.S.-Iran war were helping energy majors’ trading desks. It also cited investor concerns about oil prices and rising government borrowing costs, including fears of a possible repeat of the eurozone debt crisis.
LSEG’s calendar lists 78 STOXX 600 companies expected to report during the week of Oct. 26. Eurostat is scheduled to publish its October euro-area inflation flash estimate on Nov. 4.
