Adidas reach top levels on DAX

18.01.2017 / 17:57

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Adidas shares led German markets Wednesday after its chief executive said the firm's U.S. ambitions would not be impacted by protectionist signals from President-elect Donald Trump.

Adidas gained 1.22% in Frankfurt trading to change hands at a two-week high €149 each by 11:30 a.m. GMT

"I do believe Mr. Trump is a businessman and I don't think that is in his interest to punish consumers for buying the right products in the U.S. markets, (be it) ours or our competitors," Rorsted told CNBC Europe during an interview at the World Economic Forum

According to data on Adidas' corporate website, 163 of its 353 global factories are located in China and Taiwan, with only 16 situated in the United States.

Trump's transition team has rejected previous reports that his administration is aiming for a 5% universal import tax, saying that it was too early to discuss that question that question.

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Adidas reach top levels on DAX

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