Shares of Adidas and Puma Rise After Nike's Results

Investors exhibited a heightened interest in Nike's competitors, Adidas and Puma, within the European markets in response to Nike surpassing its first-quarter earnings projections. Adidas shares (ADS) saw a notable increase of 7%, while Puma's stock (PUM) experienced an 8% rise, following Nike's report. Notably, Nike achieved better-than-anticipated profit margins, even though its revenue met expectations.

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In the London market, JD Sports Fashion (JD) observed a 5% increase in its shares. Analysts from JPMorgan, under the leadership of Olivia Townsend, highlighted several key factors contributing to the positive trend. These included stronger-than-expected demand in North America, a robust performance in the European market, expanded gross margins, and ongoing enhancements in inventory management.

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Furthermore, the major European stock indexes displayed gains on Friday, with the UK FTSE 100 (UKX), German DAX (DX:DAX), and French CAC 40 (FR:PX1) indices recording increases ranging from 0.6% to 1.2%.

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In the United States, the SPX index experienced an upswing on Friday, attributed in part to the release of core PCE price index data, which proved to be cooler than previously forecasted.

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