London, Feb 23, 2026, 09:08 GMT — Regular session
- Diageo shares slipped in early London action, pulling back after their brisk climb on Friday.
- Investors are shifting positions before Diageo’s interim results land on Feb. 25.
- Tariff headlines mix with the new CEO’s initial steps, fueling the noise.
Diageo (DGE.L) slipped roughly 0.3% to 1,845 pence by 0908 GMT on Monday, with traders treading carefully before the spirits group’s interim numbers due later this week. Shares moved in a 1,832–1,857 pence range. (Investing.com)
Guinness and Johnnie Walker parent Diageo is set to release interim results for fiscal 2026, covering the half-year to Dec. 31, on Wednesday. The company’s webcast kicks off at 0705 UK time, and management will take live questions starting at 0930. (www.diageo.com)
The timing hardly helps. European stocks slipped at the open, with the STOXX 600 falling 0.3% by 0815 GMT, after President Donald Trump upped the global tariff rate he’d rolled out over the weekend—injecting fresh U.S. trade policy jitters. (Reuters)
Diageo shares jumped 3.9% Friday, wrapping up the week at 1,851 pence. Volume hit roughly 6.95 million shares. Prices swung between 1,794.5 and 1,861 pence during the session, price data show. (Investing.com)
Attention has landed on new chief executive Dave Lewis, following a report about plans to shake up Diageo’s executive ranks by swapping out multiple executive committee members. The company wouldn’t comment. Reuters pointed out that Diageo is dealing with higher tariffs in the U.S.—its largest market. (Reuters)
Macro signals aren’t much use here. “It weakens the dollar in the sense that it potentially benefits non-U.S. growth,” said Sim Moh Siong, currency strategist at OCBC Bank in Singapore, referring to the court decision and tariff shift. For multinationals with hefty overseas revenue, currency moves can bite fast. (Reuters)
Back in November, Diageo cut its forecast again, warning that sales for fiscal 2026 could end up flat or even a touch lower after sluggish performance in both the U.S. and China. “There’s much more for us to do, and we need to go faster,” finance chief Nik Jhangiani said at the time. (Reuters)
Wednesday’s figures could make it clearer if volumes are truly leveling out or simply shifting from one region to another. Traders are tuned in for remarks on U.S. demand, updates on pricing, and signs that costs are feeling pressure from trade conditions.
The risk isn’t one-sided. Should Diageo sound wary about “organic” growth — that is, sales excluding currency fluctuations and portfolio moves — or suggest that key market recoveries are dragging, investors could decide the rebound we’ve seen lately is on shaky ground.
