Diageo /zigman2/quotes/208129584/composite DEO +0.45% /zigman2/quotes/205611832/delayed UK:DGE +0.08% , the alcoholic beverage maker of Johnnie Walker whisky, Guinness beer and Captain Morgan rum, said it's halting its stock buyback program and suspending its financial guidance. Diageo said it will go ahead with its interim dividend due to be paid in April. In mainland China, Diageo said it's beginning to see a very slow return of on-trade consumption, while most bars are shut in the U.S. and in Europe, and on-trade accounts for 20% of U.S. sales and 50% of Europe business. In both regions it has seen some pick-up in the off-trade channel (retail stores) in recent weeks, although it is unclear whether this will be sustained.
Read the full story:
European stocks climb on optimism policymakers will find ways to re-open economies