Shares of world's largest brewer AB InBev tumble 9% on declining volumes
The Budweiser maker said volumes declined 1.9% year-on-year over the three-month period, well ahead of the 0.3% dip forecast by analysts on the back of weaker demand for its beer products. Shares had pared down their losses and were last seen down 8.71% at 9:49 a.m. London time (4:49 a.m. ET). The drop was led by China, where volumes were down 7.4% and where the company said it was "underperforming the industry." The weakness was also driven by Brazil, where AB InBev cited high comparisons and adverse weath ...