- DE40 in the local highs zone
- Adidas will no longer be the main sponsor of the German national team after 77 years
- Unsuccessful start to Douglas quotations
General market situation:
The last trading session on European markets this week brings declines in most indices. Germany's DAX loses 0.04%, France's CAC40 is down 0.48%, and the Euro Stoxx 50 benchmark loses 0.73%. Risk demand is weakening in the face of a stronger dollar. The macro calendar for today's session is relatively limited, but some volatility may be provided by incoming comments from central bankers.
European companies traded during Friday's trading session are currently trading at mixed levels. The biggest losers are the fashion, automotive and semiconductor industries. Source: xStation 5
Germany's benchmark DE40 is recording modest gains during today's session. The main control level remains around 18150 points. A downward break through these zones could encourage the supply side to initiate a corrective move. Source: xStation 5
News:
Nike Inc. (NKE.US) replaces Adidas AG (ADS.DE) as the main sponsor of the German national soccer team's outfits. Adidas will end its sponsorship of the national team after 77 years. The economy minister has publicly criticized the move. Nike will pay 100 million euros a year, more than twice what other major soccer sponsorships are worth.
Nike made "by far the best economic bid," the German soccer association DFB reported Thursday.
German perfume retailer Douglas AG (DOU.DE) lost nearly 11% on its debut, and today the declines are being extended. The IPO price was 26 euros, and today the shares are trading at 21.8 euros.
Shares of European sportswear retailers Adidas (ADS.DE), Puma (PUM.DE) and JD Sports (JD.UK) are losing in today's session after Nike warned investors that sales could come under pressure this year. Moreover, US-based Lululemon also issued a cautious outlook and cited challenges in the US market.
Other news about individual companies included in the DAX index. Source: Bloomberg Financial LP
