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ADIDAS AG

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  Report
Delayed Quote. Delayed Xetra - 09/17 11:37:03 am
282.35 EUR   -1.07%
09/13ADIDAS AG : Release of a capital market information
EQ
09/13ADIDAS AG : Release of a capital market information
DJ
09/10ADIDAS : Goldman Sachs reaffirms its Buy rating
MD
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Sharp rise in European sentiment helps stocks higher

06/29/2021 | 01:42pm EDT
The German share price index DAX graph is pictured at the stock exchange in Frankfurt

(Reuters) - European shares ended higher on Tuesday after data showed economic sentiment improved sharply in June, while Adidas lifted the German index with a share buyback plan.

The pan-European STOXX 600 closed 0.3% higher at 456.37 points, after data showed euro zone economic sentiment hit a 21-year high in June as a steady vaccination programme saw several economies reopen.

While the data did not factor in the new Delta variant of the coronavirus, the improving mood saw investors pile into sectors most likely to benefit from a recovery.

Chemical stocks rose 0.9%, while automobile and financial services were among the best performers.

"Only in May 2000, at the height of the dotcom boom, did we see more positive economic sentiment than now... The reopening of economies is causing a synchronised boost to both production and optimism about the months ahead among industry, services and consumers," ING analysts wrote in a note.

German shares were the best performers, adding 0.9%. Adidas rose 2.5% to a record high after the sportswear maker said it will launch a new share buyback programme worth up to 550 million euros ($654 million).

German inflation also eased in June, quelling some fears over increasing price pressures. But the reading remained above the central bank's target.

Optimism around a steady economic recovery has put the European benchmark on course for its fifth straight month of gains, but it has recently struggled to break above its all-time closing high on June 16 on concerns over the Delta variant of the coronavirus.

Travel-related European stocks fell 0.2% after their worst session in more than a month, following reports of a potential ban on UK travellers in Germany. Spain also tightened travel rules for British tourists.

"Concerns (are) growing that the race between the vaccine and the virus is being lost," said Michael Hewson, chief market analyst at CMC Markets UK.

Among individual stocks, French electrical parts supplier Rexel jumped 4.3% after it lifted its 2021 sales forecast.

Knorr Bremse fell more than 12% to the bottom of the STOXX 600, after Reuters reported the German brakes maker, along with French auto plastic suppliers Plastic Omnium and Faurecia were interested in buying German automotive lighting group Hella.

Hella surged nearly 4% on the news.

(Reporting by Sagarika Jaisinghani and Ambar Warrick in Bengaluru; Editing by Shounak Dasgupta and Alexander Smith)

By Sagarika Jaisinghani and Ambar Warrick


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ADIDAS AG -1.07% 282.35 Delayed Quote.-5.22%
COMPAGNIE PLASTIC OMNIUM SE 4.10% 22.32 Real-time Quote.-20.91%
FAURECIA SE 2.33% 38.7 Real-time Quote.-7.66%
HELLA GMBH & CO. KGAA 0.00% 60.5 Delayed Quote.14.37%
KNORR-BREMSE AG 0.98% 103.3 Delayed Quote.-7.50%
REXEL -2.40% 17.05 Real-time Quote.32.22%
All news about ADIDAS AG
09/13ADIDAS AG : Release of a capital market information
EQ
09/13ADIDAS AG : Release of a capital market information
DJ
09/10ADIDAS : Goldman Sachs reaffirms its Buy rating
MD
09/08ADIDAS : Oddo gives a Buy rating
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09/06ADIDAS AG : Release of a capital market information
DJ
09/06ADIDAS : Berenberg maintains a Buy rating
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09/02JD Sports may still have to sell Footasylum, says UK regulator
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08/31Footwear startup Allbirds touts ESG focus as it files for IPO
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08/30DGAP-CMS : adidas AG: Release of a capital market information
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08/27Affirm soars on buy now, pay later pact with Amazon
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More news
Analyst Recommendations on ADIDAS AG
More recommendations
Financials
Sales 2021 21 790 M 25 551 M 25 551 M
Net income 2021 1 537 M 1 802 M 1 802 M
Net cash 2021 138 M 162 M 162 M
P/E ratio 2021 36,3x
Yield 2021 1,16%
Capitalization 54 776 M 64 298 M 64 230 M
EV / Sales 2021 2,51x
EV / Sales 2022 2,26x
Nbr of Employees 58 007
Free-Float 86,9%
Chart ADIDAS AG
Duration : Period :
adidas AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ADIDAS AG
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 32
Last Close Price 282,35 €
Average target price 337,11 €
Spread / Average Target 19,4%
EPS Revisions
Managers and Directors
Kasper Bo Rørsted 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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