STOCKS NEWS EUROPE-Profit warning rumours pressure Adidas
STOCKS NEWS Reuters Results diary
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10:39GMT 27March2009-Adidas falls on talk of possible profit warning
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Shares in Adidas (ADSG.DE) fall 1.6 percent, among top German blue chip decliners .PL.GDAXI, with traders citing market talk that the sports equipment supplier might cut its 2009 guidance due to weakening sales in Asia and large inventories.
Traders say the rumours may have originated from a Merrill Lynch note.
Adidas declines to comment. In early March, it said it expects group sales to drop at up to mid-single-digit rates in 2009 and sees margins, net income and earnings per share (EPS) declining due to higher operating costs.
Reuters Messaging rm://tyler.sitte.thomsonreuters.com@reuters.net
10:14GMT 27March2009-WestLB upgrade to "buy" boosts Rheinmetall
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Shares in Rheinmetall (RHMG.DE) gain 6.1 percent, making it one of the top performers among German midcaps .MDAXI, as WestLB upgrades its stance on the automotive and defence company to "buy" from "neutral" and pegs its price target at 36.6 euros.
The brokerage points to prompt action on the company's automotive side to cut costs and strong demand on defence side as reason for its upgrade.
Reuters Messaging rm://tyler.sitte.thomsonreuters.com@reuters.net
10:16GMT 27Mar2009-Public Service Properties up on FY numbers
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