Any shining stars in this earnings season?

Financial journalist and commentator on 3AW and Sky Business
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The Australian profit reporting season swings into gear this week, with some of the market’s heavyweight stocks reporting, including Commonwealth Bank, Suncorp and Transurban (Wednesday) and AMP, Insurance Australia Group and AGL Energy on Thursday.

Across the market, consensus expectations are for earnings growth of about 2% – but virtually all due to resources.

What is unnerving investors is both that the earnings downgrades continue to flow, and that early profit reports have been fairly weak. Any business outside resources is suspect until it reports.

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