欧洲企业摆脱不确定性困扰 着眼2026年乐观增长前景

Group 1 - European companies largely withstood pessimistic profit expectations in Q3, with more upward guidance revisions than downward ones, achieving better-than-expected profit margins despite tariff and exchange rate pressures [3] - The overall tone of discussions regarding supply chains, inflation, and economic recovery has become more optimistic, as indicated by a decrease in mentions of tariffs compared to Q1 and Q2 [3] - The trade agreement between the US and EU, which established a 15% tariff rate, has contributed to increased confidence among companies regarding future cost and profit trajectories [3] Group 2 - Hexpol AB, a company providing rubber and plastic components for the automotive and construction industries, frequently mentioned uncertainty due to ongoing trade tensions, indicating that US tariffs have negatively impacted North American clients and suppressed demand [3] - Volvo Group expressed concerns over uncertainty in the North American market, attributing reduced orders to decreased freight activity and a 25% tariff on medium and heavy trucks, expecting this weakness to persist into next year [4] Group 3 - The current weak market conditions have shifted from being widespread to more localized, enhancing confidence in a recovery next year, which has led to upward revisions in expectations for 2026 [7] - Despite challenges in the automotive and chemical sectors, the resilience shown by both cyclical and defensive industries is laying a stronger foundation for profit growth in 2026 [7]