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Adidas rises as European shares edge higher
September 27, 2013 / 7:13 AM / in 4 years

Adidas rises as European shares edge higher

LONDON, Sept 27 (Reuters) - European shares edged up on Friday, with sportswear group Adidas among the top gainers, although investors expected a lack of progress in U.S. budget talks to keep markets in a tight range.

The pan-European FTSEurofirst 300 index, which hit a 5-year high of 1,274.59 points earlier this month, rose by 0.2 percent to 1,260.62 points in early session trading.

The euro zone’s blue-chip Euro STOXX 50 index also crept up by 0.2 percent to 2,927.95 points.

German group Adidas rose 1.3 percent to feature among the FTSEurofirst 300’s top performing stocks, after its U.S. rival Nike posted higher sales.

Berkeley Futures associate director Richard Griffiths said expectations of solid third-quarter results from top European companies was helping equity markets hold onto solid gains made this year, with the FTSEurofirst 300 up 11 percent since the start of 2013.

“Third quarter results should be good, in keeping with the general improvement in major economies,” he said.

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