Goldman urges investors to sell European stocks that rely on China for profits

Better fortunes await firms with exposure to the US, the strategists said

LVHM derives 17% of sales from China. Photo: Lam Yik/Bloomberg

Investors should sell European stocks that derive the bulk of their sales from China due to sluggish consumption and heightened trade tension, Goldman Sachs Group Inc. strategists said.

The team, led by Lilia Peytavin, instead recommend buying companies with high exposure to the US — Novo Nordisk A/S and BP Plc are some of the leading names in that group.