(Bloomberg) -- Bulls betting on rising earnings to support the rally in global equities are getting some validation. The number of stock analysts raising their profit estimates for firms worldwide has exceeded those lowering them for three straight weeks, according to Citigroup Inc.'s earnings-revisions index. The gauge's four-week moving average has turned positive for the first time since 2011, prompting Jefferies Group LLC to say that equities are entering a “sweet spot.”
To contact the reporter on this story: Sofia Horta e Costa in London at shortaecosta@bloomberg.net.
To contact the editors responsible for this story: Celeste Perri at cperri@bloomberg.net, Namitha Jagadeesh, Sheldon Reback
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