FRANKFURT (dpa-AFX) - After Nike's disappointing outlook with massive post-bubble share price losses, Adidas and Puma are also off to a weak start on Friday. Puma was valued particularly low at minus 4.7 percent by the broker Lang & Schwarz.

JPMorgan analyst Olivia Townsend emphasized that Nike has hardly any fundamental signal effect on its European competitors. She also emphasized the role of Adidas as her favourite. Jefferies expert James Grzinic pointed out that Europeans have not followed Nike's share price reaction in the recent past as they used to. He expects Adidas to be more robust this time as well, as they have piled deeper into the outlook.

"According to Borsianer, the fact that the Herzogenaurach-based company approached analysts again the evening before its figures at the end of July in order to align expectations makes the assessment particularly tricky for Adidas investors. This Friday, there will therefore be a hail of outlooks for Adidas' half-year report /ag/jha/.