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The global shutdown will put a significant dent in corporate earnings this year, according to the latest Analyst Pulse Survey from Fidelity International.
Fidelity's analysts are bracing for a full year earnings cut of 44 per cent, on average across their companies, if the Covid-19 outbreak dampens economic activity for the whole of 2020. In the event the economy recovers in the second half of the year, that cut is expected to be 27 per cent on average. Overall, the survey responses reveal that analysts expect the impact of the virus to be felt more broadly and for longer.
91 per cent of analysts now expect a negative impact on earnings from Covid-19, up from 76 per cent last month. Of those 91 percent, three quarters expect the shutdown to affect...
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