Heineken puts fizz back into its shares
Heineken (HEI.AS, e28.08) is 'supposed to refresh the parts that other beers cannot reach', says Simon Nixon at Breakingviews.com, but its share price over the past few years has been 'about as appealing as flat lager'.

Heineken (HEI.AS, e28.08) is "supposed to refresh the parts that other beers cannot reach", says Simon Nixon at Breakingviews.com, but its share price over the past few years has been "about as appealing as flat lager".
Exposure to Europe and the US dollar have left it trailing in the wake of more swashbuckling rivals, such as InBev and SABMiller, which have "substantial" exposure to emerging markets.
However, it has been re-rated from a p/e multiple in the "high 20s" to "just over 14 today", and with the worst of its troubles apparently behind it (earnings growth is "likely to match its rivals in 2007"), "that looks cheap". Also, "the lucrative US import market is growing strongly again and the company is bullish about the launch of Heineken Premium Light in the US in March".
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
By contrast, InBev is being required to meet "demanding growth forecasts", while SABMiller is engaged in a price war with Anheuser-Busch. Investors may now find that a few shares of Heineken in their portfolios this year are "rather refreshing".
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
Annunziata was a deputy editor at MoneyWeek, covering financial markets, politics, economics and comment pieces. She then went on to the Daily Telegraph as a lead writer where she wrote a column on young women’s financial issues. She was briefly a member of the European Parliament for the East Midlands region in the UK as part of the Conservative Party. Annunziata continues to write as a freelance journalist.
-
Review: Eden Roc Cap Cana – fun, sun and golf in the Caribbean
Travel Eden Roc Cap Cana in the Dominican Republic offers everything from relaxing by the pool to a world-class golf course
-
Reeves delays cash ISA reform, but savers are not out of the woods yet
The chancellor has reportedly delayed plans to cut the cash ISA limit, which were set to be announced at Mansion House on 15 July, and will take more time to consult with the industry