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It is surely a sign of the times when managing to keep earnings flat seems like a cue to break out the party hats and have a celebration.

One of the key questions giving investors sleepless nights at the moment is just how big a haircut earnings are going to take across the board, especially in markets that are not propped up by the outperformance of the tech giants. Under these circumstances Oceana’s description of its operating performance as resilient seems to err on the side of caution...

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