Finance
European drinks group skid after US surgeon general calls for cancer warnings
Published by Global Banking & Finance Review®
Posted on January 3, 2025
1 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 3, 2025
1 min readLast updated: January 27, 2026
European spirits and brewers' shares fell after the US surgeon general called for cancer warnings on alcoholic drinks, affecting companies like Diageo and Pernod Ricard.
(Reuters) - Shares in European spirits makers and brewers fell on Friday after the U.S. surgeon general called for cancer warnings on alcoholic drinks.
Alcoholic drinks should carry a label warning consumers about their cancer risks, U.S. Surgeon General Vivek Murthy said in an advisory, noting that their consumption increases the risk of developing breast, colon, liver and other cancers.
Shares in the world's top spirits maker Diageo were down some 3% to their lowest since mid-December at 1352 GMT, after falling as much as 4.1%.
French spirits maker Pernod Ricard, which owns Martell cognac, Mumm champagne and Absolut vodka, was down around 3.2%, while its peer Remy and Italian spirits group Campari were both down around 3.8%.
Brewers were also hit, with Budweiser maker Anheuser-Busch InBev down around 2%, and Heineken and Carlsberg down between 1% and 1.5%.
(Reporting by Anna Pruchnicka in Gdansk; Editing by Susan Fenton)
The main topic is the decline in European spirits and brewers' shares following the US surgeon general's call for cancer warnings on alcoholic drinks.
Diageo shares dropped due to the US surgeon general's advisory on cancer warnings for alcoholic drinks, impacting investor confidence.
Brewers like Anheuser-Busch InBev saw stock declines as the advisory raised concerns about future sales and regulatory impacts.
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