Disappointing second quarter for European companies . According to consultants Morgan Stanley, the second quarter of 2012 will be the most disappointing for European businesses since 2003. The profits of many of the 260 companies on the Stoxx index (49% of them in fact) are lower than expected, with 46% of companies making higher-than-expected profits. Taken as a whole, European companies' profits fell by 12% in Q2 2012. A wider sample of 533 companies surveyed by MSCI Europe (Morgan Stanley...