Investing.com -- European stocks saw further gains on Wednesday, with Adidas (OTC:ADDYY)' robust holiday-quarter results driving German shares to unprecedented heights, and healthcare stocks also showing impressive gains. The pan-European STOXX 600 rose by 0.5% and was trading at its highest level since Sept. 27, 2024, as of 0822 GMT.
The rise was primarily led by heavyweight healthcare stocks that increased by 1.1%. This boost was further supported by a 2.7% surge in the shares of drugmaker Novo Nordisk (NYSE:NVO).
Adidas' shares saw a significant 6% increase after the German sportswear brand announced its preliminary fourth-quarter results, which surpassed expectations. The company attributed these strong results to high sales and profitability during the crucial holiday shopping period.
Following Adidas' lead, Puma (OTC:PMMAF)'s shares also rose by 2.5%. Germany's benchmark index outperformed its regional counterparts by adding 0.9%, reaching a record high.
The market's positive trend continued despite U.S. President Donald Trump's pledge to impose new tariffs on the European Union. The Trump administration also discussed imposing a 10% tariff on Chinese goods starting Feb. 1.
In contrast, shares of Schaeffler, the German automotive supplier, experienced a substantial 15% drop. This decline came after the company reported preliminary results for 2024 that fell short of expectations.
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