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Europe Markets: JPMorgan puts these two European energy giants on ‘catalyst watch’ ahead of earnings

Analysts at JPMorgan Cazenove put Royal Dutch Shell and Eni on their “catalyst watch,” their short-term conviction indicator, ahead of both oil group’s earnings at the end of the month.

Shell’s UK:RDSB RDS.B third-quarter update is “positively skewed,” with the broker expecting $14 billion in cash flow from operations excluding working capital, and adding Shell’s LNG trading adds further upside risk. JPMorgan also is expecting a 2022 buyback of $9.2 billion, which is ahead of estimates of $7.8 billion, and an improving fourth-quarter…

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