Anheuser-Busch InBev shares rose more than 5% on Wednesday, in response to a strong first-quarter performance and anticipated relief from the impact of an ongoing US Bud Light boycott.
The worlds largest brewer reported a 2.6% rise in revenues, in line with expectations, and better-than-forecast EBITDA and volumes, including in North America, its largest region by revenues, analysts said.
The company, which makes Stella Artois and Corona beer, said it had record volumes in some of its markets, including Brazil and South Africa. EBITDA, meanwhile, grew 5.4%, well ahead of the 1.9% expected by analysts.
Its shares hit their highest level since February, putting them among the biggest gainers on the pan-European STOXX 600.
