Adidas Stock Rises 1.7%, Still A Top Pick By Financial Analysts
Adidas "enjoyed a winning Monday" as Europe's stock markets rebounded higher, according to Stephen Smith of the FINANCIAL TIMES. Financial services group Credit Suisse previewed second-quarter results for the region’s luxury and sporting goods groups, and said that adidas "remained the top pick in its sector coverage." Credit Suisse said, "It has the best self-help margin story with top-line acceleration in the second half and potential for rising cash returns." The world’s second-largest sporting goods maker climbed 1.7% to €82.35 ($105.19) while another Credit Suisse pick, Richemont -- the owner of the Cartier brand -- rose 1.8% (FT, 7/8).