Deutsche Bank has raised its fiscal 2026 earnings growth forecast for the FTSE 100 to 12 percent from 9 percent, citing stronger energy earnings and resilient growth outside the sector. The bank noted that first-half aggregate earnings are expected to increase by 10 percent year-over-year, a strong acceleration from the 4 percent growth rate seen in the second half, with the Energy sector contributing 7 percentage points of that growth. Excluding Energy, consensus expects first-half earnings to rise just 3 percent, but Deutsche Bank is more optimistic, forecasting 5 percent growth and pointing to a global macro environment that has been more resilient than feared. Basic Materials is also expected to lift first-half growth by almost 4 percentage points, while Financials and Staples are seen as the biggest drags. Since the start of the Iran war, fiscal 2026 estimates have been revised up by 7 percent, mostly driven by Energy and Basic Materials, with consensus now expecting FTSE 100 earnings to grow 14 percent this year.
Deutsche Bank AktiengesellschaftDeutsche Bank raised its FTSE 100 earnings forecast, reflecting its own analyst work and potentially boosting its investment banking reputation.