European stocks extend gains as Adidas propels DAX to record high
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Jan 22 (Reuters) - European stocks extended their recent run of gains on Wednesday, with strong holiday-quarter performance from Adidas pushing German shares to record highs and healthcare stocks posting strong gains.
The pan-European STOXX 600 .STOXX was up 0.5%, as of 0822 GMT, and trading at its highest level since Sept. 27, 2024.
Heavyweight healthcare stocks .SXDP led the charge, rising 1.1%, boosted by a 2.7% uptick in drugmaker Novo Nordisk NOVOb.CO.
Shares of Adidas ADSGn.DE jumped 6% after the German sportswear brand reported what it said were better-than-expected preliminary fourth-quarter results, with strong sales and profitability for the important holiday shopping period.
Puma PUMG.DE rose 2.5%, while Germany's benchmark index .GDAXI outperformed its regional peers, adding 0.9% to touch a record peak.
The upbeat mood in markets came even as U.S. President Donald Trump pledged to hit the European Union with fresh levies and said his administration was discussing imposing a 10% tariff on goods from China on Feb. 1.
In other stocks, Schaeffler SHA0.DE tumbled 15% after the German automotive supplier reported lower-than-expected preliminary results for 2024.
(Reporting by Nikhil Sharma in Bengaluru; Editing by Sherry Jacob-Phillips)
((Nikhil.Sharma@thomsonreuters.com;))
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