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ADIDAS AG

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Real-time Estimate Quote. Real-time Estimate Tradegate - 12/01 02:27:28 pm
259.625 EUR   +1.59%
08:04aADIDAS AG : Release of a capital market information
EQ
11/24BERNARD TAPIE : Orange says to replace Richard as CEO by Jan. 31
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11/24Orange says to replace Richard as CEO by Jan. 31
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

European stocks log best winning streak since 2006, fourth week of gains

08/13/2021 | 12:15pm EST
German share price index DAX graph is pictured at the stock exchange in Frankfurt

(Reuters) - European stocks scaled new highs on Friday and clocked their fourth consecutive week of gains on optimism over a strong earnings season and steady recovery from the pandemic-led economic downturn.

The pan-European STOXX 600 index inched up 0.2% to a record high of 476.16, for the tenth straight session. The index has now matched its best winning streak since December 2006.

While the pace of gains has slowed due to thin summer trading, the index has logged nine-day gaining streaks seven times in the past fifteen years.

Germany's DAX index ticked above 16,000 points for the first time ever, while France's CAC 40 index index touched its highest level in nearly 21 years.

Both European and U.S. stocks hit record levels this week, supported by rising earnings expectations and improving economic data, even as Asian equities were held back by worries about Chinese regulation and the fast-spreading Delta variant of the coronavirus.

"If investors are concerned about rising Delta variant cases globally there's little evidence that it is prompting any undue worry, although markets in Asia have been a little more cautious," said Michael Hewson, chief market analyst at CMC Markets UK.

Meanwhile, speculation that the U.S. Federal Reserve could soon start to unwind its bond-buying stimulus calmed a bit following tame U.S. consumer prices data this week.

Focus will be on the minutes from the U.S. central bank's last policy meeting next week for clues on the outlook for monetary policy.

"With equity markets almost doubling since the start of the pandemic and a bull market lasting over a decade, investors are questioning how far the bull market can rally," said Geir Lode, head of global equities at the international business of Federated Hermes.

"With higher inflation and regulatory risk we believe value stocks will outperform growth stocks," said Lode, adding that he expects stronger earnings growth among mid-cap and smaller companies versus the mega-cap growth companies.

Italian shares were also trading near their highest since September 2008.

Adidas rose 2.3% after it said it was selling Reebok to Authentic Brands Group for up to 2.1 billion euros ($2.5 billion).

Pet supplies retailer Zooplus shot up 41.1% after it accepted a takeover offer worth around 3 billion euros ($3.5 billion) from U.S. private equity firm Hellman & Friedman.

French healthcare company Ipsen tumbled 12.7% after it withdrew a U.S. application for palovarotene, its treatment for an extremely rare disease that causes muscles and tissue to turn to bone.

Graphic: European and U.S. stocks at all-time highs,

(Reporting by Sruthi Shankar and Shreyashi Sanyal in Bengaluru; Additional reporting by Sagarika Jaisinghani and Susan Mathew; Editing by Shounak Dasgupta and Dan Greber)

By Sruthi Shankar and Shreyashi Sanyal


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ADIDAS AG 2.39% 261.65 Delayed Quote.-14.22%
BELIEVE 0.56% 17.8 Real-time Quote.0.00%
IPSEN 0.77% 86.8 Real-time Quote.26.86%
ZOOPLUS AG -0.25% 481.6 Delayed Quote.184.33%
All news about ADIDAS AG
08:04aADIDAS AG : Release of a capital market information
EQ
11/24BERNARD TAPIE : Orange says to replace Richard as CEO by Jan. 31
RE
11/24Orange says to replace Richard as CEO by Jan. 31
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11/23ADIDAS : Credit Suisse gives a Neutral rating
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11/22CVC, HPS to buy stake in Authentic Brands at $12.7 billion valuation
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11/22ADIDAS AG : Release of a capital market information
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11/22Amazon Web Services Selected by adidas as Cloud Provider
MT
11/18Accent Group Secures Exclusive Distribution Deal for Reebok Brand
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11/15ADIDAS AG : Release of a capital market information
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11/12ADIDAS : Buy rating from Goldman Sachs
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Analyst Recommendations on ADIDAS AG
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Financials
Sales 2021 21 422 M 24 254 M 24 254 M
Net income 2021 1 616 M 1 830 M 1 830 M
Net cash 2021 451 M 511 M 511 M
P/E ratio 2021 32,9x
Yield 2021 1,28%
Capitalization 49 089 M 55 593 M 55 580 M
EV / Sales 2021 2,27x
EV / Sales 2022 2,06x
Nbr of Employees 54 722
Free-Float 87,7%
Chart ADIDAS AG
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Technical analysis trends ADIDAS AG
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 31
Last Close Price 255,55 €
Average target price 323,29 €
Spread / Average Target 26,5%
EPS Revisions
Managers and Directors
Kasper Bo R°rsted Chief Executive Officer
Harm Ohlmeyer Chief Financial Officer & Labor Director
Thomas Hermann Rabe Chairman-Supervisory Board
Martin Shankland Head-Global Operations
Roland Nosko Member-Supervisory Board
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