As I write these words on another blisteringly hot day in this record-breaking European summer, Diageo’s stock market performance is showing signs of warming up too. Despite posting a disappointing set of full-year results last week – sales down 2% to US$19.64bn on an organic basis – the company’s share price has risen by nearly 10% over the past few days, and is up nearly 30% since its nadir at the beginning of April.
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