European stocks end on record high; Puma shares shed 3% after Nike earnings rattle markets

European shares moved higher on Friday with the region’s benchmark hitting a fresh high as investors digested a swathe of interest rate decisions.

The pan-European Stoxx 600 was preliminarily up over 0.4% at the closing bell in London, as the index hit a record 588.07 points, with major regional bourses in the green but sectors mixed.

Looking at individual stocks, sportswear giants Puma and Adidas were 3% and 1% lower, respectively, as concerns about U.S. rival Nike

’s performance spilled over to companies across the Atlantic.

Although Nike beat Wall Street estimates with its fiscal second-quarter earnings, investors were rattled by weakness in the Chinese market and the persistent impact of the Trump administration’s tariff regime.

Shares of Nike were down 10%, and the stock is down 20% from its February high.

Puma was among the worst-performing stocks on the Stoxx 600 on Friday, settling at the bottom of the index.

Meanwhile, Italian luxury carmaker Ferrari advanced 1.7%, paring earlier gains.