Pepsi lift on €7bn plan

Shares in PepsiCo rose to the highest in two months as investors brushed off a lower profit forecast, instead focusing on sales growth in snacks and North American beverages and the company’s plans to return about $8bn (€7bn) to shareholders this year.

The owner of Doritos and Gatorade was able to push through price increases, boosting revenue at key units in the fourth quarter.