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Guinness maker Diageo cuts outlook on weak US, China demand
- Heavyweight HSBC led the charge as the FTSE 100 set a new record of 10,785.55, boosted by calmer markets and a strong Wall Street handover.
- HSBC said its fourth-quarter profit was $6.8 billion, including targets for a 17% return on tangible equity and a 50% dividend payout ratio for three years.
- Diageo cut its interim dividend to 20 US cents, down from 40.5 US cents, and revised its sales guidance lower by 2% to 3%, causing shares to slide about 6%.
- The FTSE added 0.9% or 95.07 points, with Anglo American and Glencore up 2%, while St James's Place and Hiscox rallied about 5%.
- Diageo is ramping up cost savings and expects around 50% of its cuts in the current financial year, with Dave Lewis set to unveil a new strategy later in the summer.
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Why Diageo Stock Is Sinking Further Down Today
Key PointsDiageo saw organic sales and adjusted earnings per share decline by 3% in the first half of 2026, falling short of analysts' expectations.It also announced it was cutting its dividend by more than half, prioritizing balance sheet strength.Diageo remains a leader in the spirits industry, however, and is starting to look like an intriguing value stock at a lower-than-normal valuation.10 stocks we like better than Diageo Plc › Shares of l…
·Alexandria, United States
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British drink giants face pressure inspired by their lack of business in the United States and by decline in sales of distilled drinks in China
·Brazil
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Coverage Details
Total News Sources35
Leaning Left2Leaning Right5Center6Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
15%
C 46%
R 39%
Factuality
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