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10:25 (CET) - Corporate earnings prompt risk aversion to rise
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The perspectives that the US Q2 corporate earnings will come below expectations are prompting the risk aversion to climb.
During yesterday's session, Alcoa, the American aluminum producer, reported its third consecutive quarterly loss, due to the decline of demand and prices. The corporation reported a loss of 454 million dollars, or 47 cents per share in the Q2. In last year's Q2, the corporation gained 546 million dollars, or 66 cents per share.
The analysts were expecting an average loss of 38 cents per share, excluding restructuring costs, and gains of 3,923 billion dollars. Alcoa said that it gained 4,2 billion dollars, against last year's 7,2 billion during the same period.
Pepsi Bottling Group Inc. (PBG) gained 211 million dollars, or 96 cents per share, during the Q2, a 21% rise over last year's Q2 gain of 174 million dollars or 78 cents per share.
Today, we'll have Chevron's earnings report.
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