July 9 (Reuters) - A surge in energy profits linked to higher oil prices is set to drive European blue-chip earnings growth in the second quarter, masking weaker underlying momentum across the broader market, forecasts showed on Thursday.
STOXX 600 companies are forecast to report earnings growth of 15.3%, according to LSEG IBES data, but growth falls to 6.0% when energy companies are excluded.
Revenue growth shows a similar pattern, with second-quarter sales forecast to rise 10.5% overall but just 3.9% outside the energy sector.
Although gains are becoming more broad-based, with eight of 10 sectors expected to grow compared with five in the first quarter, energy companies are expected to see earnings more than double, far outpacing growth in other industries.
Reporting by Rafal Nowak and Javi West Larrañaga in Gdansk; Additional reporting by Editing by
Source: Reuters