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The world’s largest spirits maker, Diageo Plc (L:DGE), slid 5.9% as it reported a bigger-than-expected decline in underlying net sales as demand for its whiskeys, vodka and gin fell in all markets except North America.
Energy major BP ‘s stock (L:BP) jumped 5.8% after it cut its dividend in a widely expected move and reported a record $6.7 billion loss in the second quarter as the coronavirus crisis hammered fuel demand.
Leading gains among sectors, the oil & gas sector (SXEP) rose 2.1%, while automakers (SXAP), banks (SX7P) and travel & leisure (SXTP) rose between 1.5% and 2%.
The pan-European STOXX 600 (STOXX) was down 0.2% by 0727 GMT, although eurozone blue-chip stocks (STOXX50E) gained 0.5%.
German drugs and pesticides group Bayer (DE:BAYGn) fell 3% as it reported a 9.5 billion euro ($11.2 billion) net loss for the second quarter, following a $10.9 billion settlement of U.S. lawsuits claiming that its weedkiller Roundup caused cancer.
