London, Feb 19, 2026, 08:48 GMT — Regular session
Diageo (DGE.L) slipped 0.3% to 1,756 pence at the open in London on Thursday, the spirits group drifting lower for another session.
The clock’s ticking for Diageo: interim results covering the six months to Dec. 31 drop Feb. 25. Slated for that day, a webcast and Q&A are on the books, with CEO Dave Lewis and finance chief Nik Jhangiani lined up to take questions.
Traders are watching the sector closely, searching for signs that demand might finally be steadying after the post-pandemic slump. On Thursday, Pernod Ricard posted a 5.9% drop in first-half like-for-like sales—these figures leave out currency moves and acquisitions. “Beyond the U.S. and China, we have the rest of the world,” CEO Alexandre Ricard told Reuters. Reuters
Shares in Diageo slipped roughly 2% Wednesday, Barclays’ share page showed toward the end of the session.
Sentiment stayed on edge. The STOXX 600 lost 0.1% across European markets, investors digesting a batch of uneven earnings results and renewed US-Iran tensions.
Lewis has just begun his early days as Diageo’s new chief executive, stepping in from Jan. 1 following an external hunt for a successor to the top spot.
It’s been a rough patch for the company. Back in November, Diageo slashed its annual outlook, blaming softer demand from consumers in both the U.S. and China. Investors have been on the lookout ever since, hoping for evidence that the decline has run its course.
Still, if distributors keep chipping away at inventory—destocking, as it’s called—the next update could sting. And if Diageo hints at deeper discounts in major markets, that’s another red flag. A slip in cash generation would put its debt back under the microscope, along with how much leeway remains for buybacks and dividends.
India remains on investor radar for its growth story—and the regulatory rumblings that tend to come with it. On Wednesday, Bloomberg reported that Pernod Ricard, a key competitor to Diageo in the country, is considering taking its Indian unit public.
