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Italian Equity Market: 4Q23 Results – "Normalisation" and "Transition Year", most frequent watchwords
The Q4 2023 results season saw a slight increase in positive surprises, breaking a downward trend that had lasted since 3Q22, i.e. for 5 quarters: 'Above expectations' announcements accounted for 40% of the total (vs. 37% last quarter), 'In line' results were 43% and 'below expectations' results were 16%, in our preview sample of 99 companies.