Europe holds back brewer

Heineken, the world’s second-largest brewer, reported an increase in third-quarter beer sales, with growth in all regions except Europe, where poor summer weather reduced demand, and in the US.

Sales in the July-September period rose 2.5%, excluding the impact of acquisitions, to 60 million hectolitres, a little ahead of the average 57.9m expectation by analysts.

The share price was down almost 3.5% at one stage, making the shares one of the weakest performers in Europe’s FTSEurofirst index.