Fosters shares climb

- Last updated on GMT

Related tags: Australia, Beer, Federal government of the united states

Shares in Australian beer and wine company Foster's Brewing Group
rose to a new all-time high on Monday, IndustrySearch reports. The
report claims that...

Shares in Australian beer and wine company Foster's Brewing Group rose to a new all-time high on Monday, IndustrySearch reports. The report claims that according to analysts a combination of factors is driving the current interest in Foster's. These include the current rush to defensive stocks, a greater appreciation of the value of its $2.9 billion Beringer Wine Estates acquisition last year, as well as the positive impact if the Australian Federal Government is forced to cut the beer excise. Foster's​ is also benefiting from better earnings from the Beringer unit due to the falling Australian currency, the analysts claim. Beringer contributed $63.7 million to earnings for a three-month period in the first half of the year as Foster's delivering an interim net profit of $267.1 million.

Related topics: Market Trends

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