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Adidas shares rally on 'reassuring' pre-close earnings call

Published 25/01/2024, 13:20
© Reuters. The Adidas logo is pictured during celebrations for German sports apparel maker Adidas' 70th anniversary at the company's headquarters in Herzogenaurach, Germany, August 9, 2019. REUTERS/Andreas Gebert/ File Photo
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MILAN (Reuters) -Adidas shares rose by 5% on Thursday with traders citing good news from a call with analysts ahead of the German sportswear maker's full-year results due in March.

Analysts at Stifel said the call was "reassuring" following recent warnings from peers like Nike (NYSE:NKE) and JD Sports, adding that "the likelihood of a warning looks lower" for Adidas (ETR:ADSGN). On Wednesday, Puma fell around 6% after announcing worse-than-expected guidance for 2024.

© Reuters. The Adidas logo is pictured during celebrations for German sports apparel maker Adidas' 70th anniversary at the company's headquarters in Herzogenaurach, Germany, August 9, 2019. REUTERS/Andreas Gebert/ File Photo

Adidas declined to comment on the share price move. It will report full-year results on March 13.

By 1141 GMT, the shares were up 4.8%, leading gainers on Frankfurt's DAX equity benchmark index.

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