Adidas surges as strong momentum helps Q1 beat, triggers outlook hike

Shares in Adidas rose more than 7% on Wednesday, hitting their highest level in over two years after the German sportswear giant on Tuesday reported better-than-expected results and raised its 2024 guidance on stronger momentum.

Shares were up 6.6% by 0905 GMT, topping pan-European STOXX 600 index and tracking their biggest daily gain in almost a year.