Europe’s retail beer volumes fell 3.1% in the latest four weeks

UBS reiterated a Neutral rating on Coca-Cola Europacific Partners (CCEP) with a $107.00 price target, citing 5.4% Q3 organic sales growth forecast. The stock trades at $100.50, above InvestingPro’s Fair Value estimate. UBS expects growth in Europe and Asia Pacific, with potential for raised full-year revenue guidance. CCEP reported H1 2026 revenue of EUR 10.7 billion, up 6.1%, and EPS growth of 10.6%. Analysts have mixed views on its valuation and outlook.

Diageo won a class-action lawsuit in New York, where a judge dismissed claims that its Don Julio and Casamigos tequilas are not 100% agave. The court found the evidence insufficient, as it was based on a small study. Don Julio and Casamigos had U.S. retail sales of $2.7B and $1B, respectively, last year. Diageo confirmed its products' quality and integrity.

Diageo, a major whisky producer, is cutting production by over 50% due to oversupply concerns, particularly in Scotch, North American whiskey, and Tequila. The company's inventory, valued at $8.5bn, is seen as both an advantage and a challenge. Other producers like Ian Macleod Distillers and Brown Forman are also reducing output. Speculation-driven oversupply in American and Irish whiskey markets has contributed to the issue.

Joanne Wilson, WPP's CFO, will join Diageo as its next CFO, succeeding Nik Jhangiani. Wilson has led WPP's finances for under four years. Diageo is restructuring and has a $1 billion cost-reduction program.

Coca-Cola Europacific Partners (CCEP) is under scrutiny after independent non-executive director Nathalie Gaveau resigned, prompting a review of board roles. The company's share price is €88.3, down 6.26% over the past month but up 17.42% year-to-date and 116.77% over five years. Analysts suggest CCEP is 8% undervalued with a fair value of €95.68, citing strong long-term growth prospects in emerging markets and digital investments.

Apple led The Irish Times' Top 1,000 rankings with €209.3bn revenue and €72bn profit. Microsoft, Meta, and Google followed. Eli Lilly entered the top 10. CRH was the largest indigenous company. Apple and Meta reduced Irish headcounts. Irish corporation taxes surged due to tech profits.