E-Malt.com News article: 565

Shares of Austrian brewer and beverage maker BBAG fell over four percent on Monday, January 27, as speculation cooled about its plans for a major partnership and weak international markets prompted profit taking, according to Reuters. The Austrian blue-chip ATX index fell 1.42 percent to 1,170.89 amid a global drubbing for equity markets that took 14 of the 20 ATX shares lower, with four higher and two unchanged.

BBAG slipped 4.35 percent to close at 77.00 euros after climbing more than 16 percent since Thursday on news it would seek a major new partner and might simplify its share structure. The brewer last week set a 12-month intra-day high at 84.00 euros. "There was profit-taking today in BBAG, but we still think there is further price potential in the share," one Vienna trader said.

The brewer said it might simplify its share structure, which now consists to two categaories of shares and those of subsidiary Brau Union BRAV.VI and vests control of the group in its founding families.


28 January, 2003