European companies’ results show they’re navigating US tariffs a lot better than anticipated — a good omen for next year when they’re expected to deliver double-digit profit growth.
A Goldman Sachs Group Inc. basket of European stocks most exposed to tariffs outperformed the broader market in October after trailing for most of the year. The basket, including companies like Legrand SA, BMW AG and Adidas AG, rallied about 6% as the earnings season unfolds, twice the gains of the Stoxx Europe 600 and three times those of domestically tilted equities.
“In truth, the impact of tariffs has so far been ...
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