AB InBev shares rise on profit beat

Shares in Anheuser-Busch InBev SA (ABI.BT) traded sharply higher on Thursday after the company’s second-quarter net profit beat forecasts.

The Belgian brewer, which houses Budweiser, Stella Artois and Corona among its brands, made a net profit of $2.48 billion for the quarter ended June 30 compared with $1.94 billion the year previous. The net profit consensus forecast was $2.29 billion, taken from FactSet and based on seven analysts’ forecasts.

The company reiterated that it expects to deliver strong revenue and Ebitda growth for the year as a whole.

At 0754 GMT, shares in AB InBev traded 4.3% higher at EUR90.02.

Despite the profit beat, the company lost more ground in the U.S. market. Its market share in the second quarter fell at a faster rate than in the first quarter.

Citi analysts called the results "reassuring" and said they showcase the company’s improving trading momentum.

Robert Mueller Inadvertently Gives The World A Blistering New Catchphrase

Former special counsel Robert Mueller gave the world a brand new catchphrase with which to shut people down.

During Mueller’s testimony before the House Judiciary Committee on Wednesday, Rep. Louie Gohmert (R-Texas) accused him of perpetuating injustice with his investigation into Russian interference in the 2016 election and possible Trump campaign collusion.

When asked to respond, Mueller simply said: “I take your question.”

Check out the clip here:

Mueller’s concise reply immediately became a meme on Twitter:

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Michael Goodwin: Bumblin’ Bob Mueller’s testimony ends talk of Trump impeachment

Chris Wallace says Mueller hearing has been a disaster for the Democrats and Robert Mueller’s reputation

‘Fox News Sunday’ host Chris Wallace says Mueller’s uncertainty during his House testimony raises questions about the degree of control he had over the Russia investigation.

Among his talents, Donald Trump has a special gift for driving his detractors so crazy that they do really stupid stuff. The decision by Democrats to force former Special Counsel Robert Mueller to testify before Congress is Exhibit A.

Bumblin’ Bob was a train wreck of epic proportions. The fallout is immediate, starting with this: impeachment is no longer an option.

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It had a slim chance before Wednesday’s painful slog and no chance after it.

TRUMP SAYS MUELLER DID 'HORRIBLE' JOB AT HEARINGS, BUT HAD 'NOTHING TO WORK WITH'

Alliance Trust H1 Profit Rises – Quick Facts

Alliance Trust Plc (ATST.L) reported Thursday that its first-half profit before tax was 399.47 million pounds, compared to 74.07 million pounds last year. Earnings per share were 120.20 pence, up from 20.93 pence a year ago.

Total revenue climbed to 413.22 million pounds from 89.40 million pounds a year ago.

Further, the company announced an interim dividend of 3.490 pence, an increase of 3 percent year on year.

Looking ahead, the company said, “Our outlook for the rest of 2019 is set against a backdrop of increasingly difficult global economic conditions and political uncertainty. This uncertainty will, we believe, likely result in increased volatility in global equity markets in the coming years.”

Intermediate Capital Q1 Total AUM Up 4% – Quick Facts

Specialist asset manager Intermediate Capital Group plc (ICP.L) reported that its total assets under management or AUM for the first quarter ended 30 June 2019 increased 4 percent from the end of preceding quarter to 38.6 billion euros, with 2.1 billion euros of new money raised in the first quarter.

New money raised includes 0.8 billion euros for the company’s new Europe Mid-Market fund and 0.6 billion euros of segregated mandates raised for the company’s Senior Debt Partners strategy.

Third-party fee earning AUMs were 5 percent higher at 31.0 billion euros, compared to 31 March 2019.

“Our new Europe Mid-Market strategy – an offshoot of our successful European Corporate fund strategy – has attracted significant inflows, demonstrating our ability to identify attractive new, adjacent strategies for our clients. We are making good progress with our two other newer strategies, Infrastructure Equity and Sale & Leaseback, and remain alert to the growth opportunities that will come from expanding our more mature strategies,” Benoit Durteste, CEO of Intermediate Capital, said.

Intermediate Capital also said that Philip Keller will retire as CFOO at its AGM later today, having completed the handover of his responsibilities to Vijay Bharadia who joined the Group in May.

FirstGroup Says Q1 Trading Performance In Line

FirstGroup Plc. (FGP.L) said that overall trading performance in the first quarter has been in line and there is no change to its expectations for the current financial year.

As previously indicated, Wolfhart Hauser will step down from the Board and as Chairman at the end of the AGM today, and Senior Independent Director David Robbie will become interim Chairman of the Board at that time

The company plans to release its interim results for the six months to the end of September on 14 November 2019.