European Stocks Continue to Recover, Adidas is Jumping

European stocks continued their recovery on Wednesday, September 23, from the heavy selling witnessed earlier this week, as investors awaited the latest data on business activity to see whether the economic recovery faltered as several countries re-impose restrictions related to the Coronavirus.

The European Stoxx600 index rose 0.7% by 0712 GMT, while the British FTSE 100 index, replete with export companies, jumped 0.9%, while the British pound was hit by new restrictions imposed by the United Kingdom to face a second wave of Covid-19 infections.

The German Dax index rose 1%, while Buma and Adidas shares rose more than 4% after US sportswear maker Nike reported strong earnings and expected sales to exceed estimates for 2020.

Osram rose 13.5% after the Austrian sensor maker AMS said it had signed a so-called control, profit and loss transfer agreement as a major step towards closing its 4.6 billion euro ($ 5.4 billion) acquisition of the German company.