<p>1 月 29 日（路透社）- 最新預測顯示，歐洲企業的健康前景略有改善，貿易緊張局勢退居次要地位，投資者關注美元的疲軟和財報季。</p>
<p>根據 LSEG I/B/E/S 的數據，預計歐洲公司在 2025 年第四季度的收益平均將下降 3.9%，略好於一週前分析師預期的 4.2% 的降幅。</p>
<p>收入也預計將下降，分析師預測下降 3.5%，與上週的估計持平，LSEG 報告顯示。</p>
<h3>重要性</h3>
<p>自美國總統特朗普上任以來，STOXX 600 (.STOXX) 公司業績的預測在經歷了一年的貿易動盪後穩步惡化。</p>
<p>預計歐洲藍籌股在 2 月份的第四季度收益同比增長高達 11.1%，就在特朗普宣佈一系列關税計劃之前。</p>
<p>現在預計將交出過去七個季度中最糟糕的同比變化。</p>
<h3>背景</h3>
<p>這個財報季可能會顯示歐洲企業如何應對嚴峻的貿易干擾，領導者和政策制定者擔心歐元的升值使國內出口商的競爭力下降。</p>
<p>STOXX 600 公司的前景與美國上市公司的前景形成鮮明對比，S&amp;P 500 (.SPX) 公司預計收益將增長 9.2%，根據週五發佈的另一份 LSEG 報告。</p>
<p>2025 年第四季度 STOXX 600 收益的預期</p>
<p><img src="https://imageproxy.pbkrs.com/https://reut.rs/4qNgb3Q?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1220" height="926" original-src="https://imageproxy.pbkrs.com/https://reut.rs/4qNgb3Q"/></p>

歐洲斯托克 50 指數 ETF - SPDR

標普 500 指數股票型基金

標普 500 ETF - iShares

歐元 做多 - CurrencyShares

標普 500 指數

標普 500 ETF - Vanguard

<p>預計到 2025 年第四季度，歐洲企業利潤將下降 3.9%，略好於之前預期的 4.2% 的降幅。收入也預計將下降 3.5%。這個財報季對於評估歐洲企業如何應對貿易干擾至關重要，特別是在歐元走強的情況下，這影響了出口商的競爭力。相比之下，標普 500 公司的盈利預計將增長 9.2%，突顯了歐洲和美國企業之間前景的明顯差異</p>

<p>Jan 29 (Reuters) - The outlook for European corporate health has slightly improved, the latest forecasts showed on Thursday, as trade tensions take a backseat and investors focus on the dollar’s weakness and the earnings season.</p>
<div class="lb-trans"><p>1 月 29 日（路透社）- 最新預測顯示，歐洲企業的健康前景略有改善，貿易緊張局勢退居次要地位，投資者關注美元的疲軟和財報季。</p>
</div><p>European firms are expected to report a 3.9% drop in 2025 fourth-quarter earnings, on average, according to LSEG I/B/E/S data, slightly better than ‌the 4.2% decrease analysts expected a week ago.</p>
<div class="lb-trans"><p>根據 LSEG I/B/E/S 的數據，預計歐洲公司在 2025 年第四季度的收益平均將下降 3.9%，略好於一週前分析師預期的 4.2% 的降幅。</p>
</div><p>Revenues are also forecast to fall, with analysts anticipating a 3.5% decrease, unchanged from last week’s estimate, the LSEG report showed.</p>
<div class="lb-trans"><p>收入也預計將下降，分析師預測下降 3.5%，與上週的估計持平，LSEG 報告顯示。</p>
</div><h3>WHY IT MATTERS</h3>
<div class="lb-trans"><h3>重要性</h3>
</div><p>Projections for STOXX 600 (.STOXX) company results have steadily deteriorated after a year of trade upheaval since U.S. President Donald Trump took office.</p>
<div class="lb-trans"><p>自美國總統特朗普上任以來，STOXX 600 (.STOXX) 公司業績的預測在經歷了一年的貿易動盪後穩步惡化。</p>
</div><p>Fourth-quarter earnings of European blue-chips were forecast to grow as much as 11.1% year-on-year in February, right before Trump announced plans for a wide array of tariffs.</p>
<div class="lb-trans"><p>預計歐洲藍籌股在 2 月份的第四季度收益同比增長高達 11.1%，就在特朗普宣佈一系列關税計劃之前。</p>
</div><p>They are now expected to deliver the worst year-on-year change in the past seven quarters.</p>
<div class="lb-trans"><p>現在預計將交出過去七個季度中最糟糕的同比變化。</p>
</div><h3>CONTEXT</h3>
<div class="lb-trans"><h3>背景</h3>
</div><p>This earnings season could show how European businesses are navigating the tough trade disruption, with leaders and policymakers worried that the strengthening of the euro is making domestic exporters less competitive.</p>
<div class="lb-trans"><p>這個財報季可能會顯示歐洲企業如何應對嚴峻的貿易干擾，領導者和政策制定者擔心歐元的升值使國內出口商的競爭力下降。</p>
</div><p>The outlook for STOXX 600 companies is in stark contrast to that of U.S. listed companies, with earnings of S&amp;P 500 (.SPX) firms forecast to grow 9.2%, according to a separate LSEG report published on Friday.</p>
<div class="lb-trans"><p>STOXX 600 公司的前景與美國上市公司的前景形成鮮明對比，S&amp;P 500 (.SPX) 公司預計收益將增長 9.2%，根據週五發佈的另一份 LSEG 報告。</p>
</div><p>Expectations of Q4 2025 STOXX 600 earnings</p>
<div class="lb-trans"><p>2025 年第四季度 STOXX 600 收益的預期</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://reut.rs/4qNgb3Q" alt="" original-src="https://reut.rs/4qNgb3Q"/></p>

European fourth-quarter corporate profits expected to fall 3.9%

- 歐洲企業健康前景略有改善，貿易緊張局勢減退，投資者聚焦美元疲軟。  
- 2025 年第四季度，歐洲企業預計收益下降 3.9%，略優於預期的 4.2% 減少。  
- STOXX 600 公司預期收益情況與美國 S&P 500 公司形成鮮明對比。

預計歐洲企業第四季度的利潤將下降 3.9%