Investors will be left disappointed by a soft earnings season despite a rally that has pushed the local sharemarket to all-time highs.
That is the view of equity strategists, whose earnings forecasts have slid more than 10 per cent. The warning comes after the benchmark S&P/ASX 200 Index rallied almost 2 per cent last week as traders ramped up bets that the Reserve Bank may cut interest rates at least twice this year.
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Jenny Wiggins writes on business, specialising in infrastructure, telecommunications and transport. Connect with Jenny on Twitter. Email Jenny at jwiggins@afr.com
Sarah Jones is the markets editor at The Australian Financial Review. She is based in the Sydney newsroom. Connect with Sarah on Twitter. Email Sarah at sa.jones@afr.com
